PH startup The Kard raises funding, launches app
Francis Uy, CEO and cofounder of TheKard Inc., discusses the P17 million in additional funding that the startup has raised.
The Kard is among the startups that made it to the first batch of IdeaSpace, an incubator and accelerator initiated by First Pacific Corp. A few years after it was chosen because of its potential to succeed, the company’s founder reported that they have raised P17 million in funding.
One of the challenges of Philippine startups or startups in general is raising funding not only to kick off the business but also to accelerate or maintain it for a certain period to call it a successful venture.
“One of our goals at IdeaSpace is to help grow early stage startups transform to viable businesses,” said Earl Martin Valencia, president at IdeaSpace. “Getting additional investments and seeing traction are validations of what we saw when we first incubated this startup. It’s also an affirmation of the growing technology startup ecosystem in our country.”
Along with news of fresh funds helped raised by Globaltronics Inc., the country’s leader in digital signage advertising in the Philippines, The Kard also launched its location-based mobile loyalty solutions applications (apps) called Mobkard.
Mobkard app
“Everyone loves a good deal,” said Francis Uy, chief executive officer and cofounder at The Kard, “and sometimes many consumers miss out on discounts and other privileges simply because they are not aware of them when they enter a particular store.”
Discount coupons and vouchers now morphed into an app with Mobkard.
The app is available for download from Apple Store and Google Play Store. After going through the usual process of registering an account, consumers are ready to use the app and get updates on good deals from different brands across multiple categories.
The “Near Me” feature allows users of the app to check if there are special offers in establishments nearby.
The Kard has partnered with brands Vans, LayBare, 360 Fitness Club, Bizu Patisserie, Nurture Wellness Spa, MedExpress, Sunglass Haven, and Dillinger’s, among many others, to provide exclusive discounts and privileges.
Download the Mobkard app from Apple Store and Google Play Store.
Initially, Mobkard provided location-based mobile loyalty solutions to over 14 businesses and organizations such as AIM Alumni, Ateneo Graduate School of Business Alumni, La Salle Green Hills Alumni, PLDT SME Nation, SM Global Pinoy, and others, together with the participation of more than 200 merchant partners.
Good deals
Mobkard tapped the B to C market to test the service. The favorable response now allows the company to offer the service across all markets.
“We saw the benefits of our service to these communities and realized that we had an amazing opportunity to make a difference in the way buyers and sellers interact through the mobile space,” Uy said.
“Through the app, we allow sellers to easily reach, understand, and engage customers in a way that has never been done before. And because it is cost effective, we are able to pass on better rates and privileges to consumers which allow them to save on other things that matter to them.”
Uy said that with smartphone penetration expected to reach 60 percent by the end of the year, brands and businesses need to be proficient in the mobile space given the emergence of the so-called “mobile-first generation.”
“We want to be the leader in this mobile space and with our strategic partnerships and this new round of funding, we are well positioned to make significant strides towards our mission of making a difference,” he added.
Carlo Calimon, who leads the effort in establishing merchant and community partners, says that with their growing merchant network, there will be a lot for the members to look forward to as well as opportunities for all to get the best deals with the brands they love.
