Coupons-as-a-service (CaaS) startup Mezzofy, based in Hong Kong, has raised US$2 million in a fundraising round headed by Isola Capital’s IPVF VII.
Participants were Ooosh Tech Lab and the government-backed ITVF in Hong Kong.
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Since its founding in 2016, Mezzofy has developed a ready-made infrastructure for digital coupons that aids companies in effectively issuing, distributing, and processing them. Because of its software-as-a-service approach, businesses can utilise the product right away without having to pay up front to create their own platform from scratch.
Businesses can also use the Mezzofy API to link with their current ERP, POS, CRM, and mobile app platforms.
The business claims that by using digital coupons instead of paper ones, advertisers can cut expenses by over 87% and gain insight into consumer behaviour by studying usage data. These insights can then be used to improve marketing and sales efforts. More significantly, Mezzofy serialises and tracks each digital coupon to lower the likelihood of counterfeit ones, which may cost businesses millions of dollars a year in lost sales.
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Mezzofy states that 400 million digital coupons with a combined value of more than USD 5.1 billion have been managed throughout 15 regions (Hong Kong, Macau, Mainland China, Taiwan, Singapore, Malaysia, Japan, Korea, Indonesia, Thailand, Vietnam, India, Cambodia, the Middle East, and the UK).
In the Asia-Pacific area, it collaborates with about 100 brands, such as Hyatt Hotels Corporation, Shell, SaSa, Hong Kong Housing Society, Starbucks Hong Kong, and Maxim’s Group. The organisation employs forty people to handle R&D, product development, operational support, and commercial tasks at its offices in Singapore, Malaysia, India, and Hong Kong.
About Mezzofy
Mezzofy gives businesses an all-inclusive on-demand digital coupon platform to make, distribute, redeem, and handle coupons. It’s the easiest method ever; companies can design coupon-based marketing programmes without requiring any technical expertise.
