Press Release: TADA Raised Funding from Finch Capital
TADA secures fresh funding from Finch Capital to challenge businesses to rethink loyalty programmes
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-center 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 behavior 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.
Antonius Taufan, TADA’s CEO, commented: “Customers are getting smarter and more knowledgeable expecting the interface with retailers to be more relational, rather than purely transactional. Through our Advocacy Engagement Platform, we help businesses develop an engagement programme whereby customers eventually become their advocates. The shift from a cost-centric loyalty programme to a revenue-centric advocacy programme is a fundamental shift that we believe businesses need to do now.”
Hans de Back, Partner at Finch Capital, will join the Board of TADA. He commented on Finch Capital’s investment: “We are delighted to invest in TADA as they have a compelling offering, where they have extended engagement with customers from a loyalty transactional based approach to an advocacy relationship. TADA’s more sophisticated approach has been welcomed by their clients who have seen strong positive results and powerful ripple effect. We look forward to working with Taufan and his team to further grow the business.”
Lewi Verdatama, Marketing Communications
+62 817 295 000
Annette Wilson, Partner
+44 7796 266 201
Notes to Editors:
TADA is the first company in Asia to offer an Advocacy Engagement Platform (AEP) that help businesses move from transactions to relationships, from customer 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 creating a powerful ripple effect. Currently, 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, Commonwealth, DBS Bank, OCBC, Häagen Dazs, Alfamart and much more.
For more information visit https://useTADA.com
About Finch Capital
Finch Capital is a venture capital firm that invests in innovative technology businesses in Europe and Southeast Asia. The firm’s investments cover a variety of verticals including software (customer and data management, infrastructure, security, AI/ML solutions), marketplaces (insurance, mortgage brokering, deposits/lending, cars repairs) and payments (remittance, PSPs).
Finch’s team serves on portfolio companies’ boards to help define strategy and support entrepreneurs with their go-to-market approaches, product development, hiring, and funding roadmap to take the businesses to the next stages of development. Operating out of offices in Amsterdam, London, and Singapore, Finch Capital targets Fintech hubs in Europe including London, Dublin, Amsterdam, Berlin, Zurich, Paris and Stockholm and South East Asian hubs including Jakarta, Singapore, and Kuala Lumpur.
For more information visit http://finchcapital.com[/vc_column_text][/vc_column][/vc_row]