FMCG precision marketing platform Shoplinks has raised $900,000 in a seed funding round led by early-stage venture capital firm Cocoon Capital, with participation from the Indonesian Women Empowerment Fund (IWEF).
Since its launch in 2020, Shoplinks has been working with major FMCG brands such as Procter and Gamble, Unilever, and Johnson and Johnson, processing thousands of redemptions per month.
It offers FMCG brands and retailers an intelligent, digital end-to-end marketing platform that simplifies the distribution of personalised coupons to optimise their promotions and shoppers to claim great deals both online and offline.
FMCG brands in Southeast Asia spend approximately $28 billion each year on promotions. However, up to 70% of this spending goes to waste due to the lack of personalisation and proper targeting.
The lack of digitisation in mom-and-pop stores and supermarkets makes it very difficult to distribute promotions to shoppers. This results in lost revenue opportunities for retailers already struggling with the COVID-19 pandemic.
Teresa Condicion, co-founder and CEO of Shoplinks, believed the partnership with Cocoon and IWEF will accelerate their progress to democratise retail technology in Southeast Asia and create a win-win for brands, retailers, and shoppers.
Michael Blakey, Managing Partner at Cocoon Capital, said they are extremely impressed with the Shoplinks team and their ability to execute.
Blakey said Shoplinks is creating the missing link between FMCG promotions and consumers in Southeast Asia, solving a billions dollar problem.
The Shoplinks platform will not only bring highly attractive discounts to consumers but it will also dramatically increase the efficiency of the FMCG brands’ marketing spend.
Adelle Tanuri, head of Impact Investments of YCAB Foundation, the joint fund managers for IWEF, and Tom Schmittzehe, Managing Partner of Moonshot Ventures, both said that Shoplinks can significantly help small retailers that are often run by women, which is strongly aligned with IWEF’s mission to support women entrepreneurs across Indonesia.