Seed funding round has been closed by Vietnamese electronic gift company, UrBox for an amount undisclosed according to their announcement recently. The seed funding round was led by VIISA and VinaCapital Ventures, Vietnam based venture capital firms.
UrBox was founded in 2017. It provides digitized reward/loyalty program solution for businesses from SMEs to large enterprises by introducing them to the startup’s network of national and international gift suppliers. It began as a consulting agency for big enterprises to build loyalty programs and connecting them to gift merchants.
With the fresh funding the company is aiming to fortify and create improved synergy for the companies it collaborates with. Furthermore, in order to help push start their business expansion in the Southeast Asia region, UrBox is looking for new talents in areas of technology, marketing and business development.
In addition to saving time and efforts of the enterprises with respect to dealing personally with gift merchants related to the reward programs, UrBox also streamlines the process creating and distributing the rewards to the enterprise’s customers. The mobile app makes it easier to access the entire process.
In case of SME’ s, especially the larger enterprises, the shift from offline to online has been a strenuous job according to Hieu Vo, CFO at VIISA. He believes that better solutions are carefully crafted by UrBox for each of the new businesses. For instance, the problem for B2B clients can be solved with UrBox’s API services.
Hundreds of lifestyle brands and nearly 3,000 shopping, dining & drinking, online outlets and more across Vietnam alone are being connected by UrBox according to them. Clients from banking, telecommunication, insurance and tech form a part of UrBox’s client profile.