TADA secures fresh funding from Finch Capital to challenge businesses to rethink loyalty programme
Asia’s first advocacy marketing platform raises Series B funding round
TADA received backing from leading venture financial technology investors
The new capital will fund its planned rapid growth and further expansion of its product offering
TADA, an Indonesian-based advocate engagement and marketing platform, announced today that it has closed a Series B investment round. The funding round was led by Finch Capital, a venture capital firm that invests in innovative financial technology businesses in Southeast Asia and Europe. Other investors in the round included Sovereign’s Capital and existing investors. The new capital will fund its planned rapid growth and further expansion of its product offering.
TADA’s advocacy engagement platform addresses the problem with loyalty programmes, which tend to have a short lifespan. The problem lies in the nature of the programme: no matter how one sees it, loyalty is a cost-centre programme. It forces businesses to reward their existing customers by giving points, stamps, or discounts with no clear knowledge of whether the points really change the customers spending behaviour in the future. With more businesses having their own loyalty programmes, customers have to carry all the various loyalty cards, which is an inconvenience. TADA’s platform offers a digital solution thereby eliminating the need for physical cards and, what is most important, the platform goes beyond loyalty as it is focused on brand building by not only rewarding customers for purchases but also those who are advocates to the brand and its products.
At its core TADA helps businesses move from transactions to relationships, from customers to advocates. Advocates not only drive revenues for product referrals but also have a powerful role in terms of promoting a brand in a variety of ways through direct endorsements in person or through other forms such as social media. TADA serves more than 300 companies ranging from large corporates to SMEs, covering various industries from banks, insurance groups, FMCGs, retailers, hotels to F&Bs. Among its clients are AXA, Allianz, DBS Bank, OCBC, DBS, Häagen Dazs, Alfamart and much more.