Mobile app-based cashback platform Snapcart has officially expand its services to the Philippines. Founded by CEO Reynazran Royono, the startup has been around in Indonesia since October 2015 as an enabler of the robustly growing e-commerce industry in the country.
Royono had revealed the expansion plan to DailySocial when the company received its pre-series A round from Wavemakers Partners, SPH Media Fund, SMDV (Sinar Mas Digital Ventures), and Ardent Capital. Similar consumer behaviour in Indonesia and the Philippines is the main reason why the country became Snapcart’s first overseas destination.
“Generally, there is a similarity between behaviour in the Philippines and in Indonesia; the only difference lies in the variety of outlets. In Indonesia, minimarkets such as Indomaret, Alfamart are abundance, so there are many users in the country who do their monthly transaction in minimarkets. In the Philippines, they are just pushing for its growth, but in terms of volume, it is still bigger than supermarkets,” Royono told DailySocial.
After having been launched for two weeks, Snapcart claimed that the mobile app has been downloaded by more than 10,000 users. This is due to the cashback support from their clients in the Philippines, one of them being L’Oreal.
“Users in the Philippines are even ‘addicted’ to use Snapcart, especially with the benefit of getting cashback by simply uploading receipts through the app,” Royono said.
In general, Snapcart is targeting to secure at least 50,000 users within the next three months. From data collection perspective, the user number is already bigger than what similar research companies acquire.
In total, there are more than 75 well-known brands, locally and internationally, than have used Snapcart’s service. After expanding its service to the Philippines, Snapcart also plans to enter other Southeast Asian countries such as Thailand, Malaysia, and Vietnam.
The article Dua Minggu di Filipina, Snapcart Klaim Peroleh 10 Ribu Pengguna was written by Yenny Yusra and was first published on DailySocial. English translation by e27.
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Disclaimer: Ardent Capital, which is an investor in Snapcart, is also an investor in e27’s parent company Optimatic Pte Ltd.