Vietnam Business Channel

Digital platform UrBox receives seed investment

UrBox, a digital gifting and loyalty platform that helps businesses integrate their reward or loyalty program with a network of national and international gift suppliers/merchants announced that it has received “Seed” investment from VIISA and VinaCapital Ventures.

Launched in late 2017, UrBox connects brands with customers through multiple digital channels. Customers can receive gift vouchers instantly and store them on their app/phone and redeem these vouchers both offline and online.

UrBox started as a consulting agency to build loyalty programs by connecting companies in Vietnam with merchants. UrBox’s founders identified the fact that customers’ reward programs have normally been manual processes: from manually dealing with each gift suppliers, printing out vouchers and sending the vouchers to customers.

UrBox has a wide network of hundreds of lifestyles brands and nearly 3,000 outlets across Vietnam that accept its vouchers. The merchants include Dining & Drinking (Redsun, Golden Gate, Coffee Bean & Tealeaf, The Coffee House, Paris Baguette…); Shopping (7Eleven, Family Mart, Shop&Go, Klever Fruit, FPTshop); and Online (Shopee, Tiki, Now, Grab).

Currently UrBox is serving more than 30 top corporates in different sectors from banking, telco, insurance to tech companies, including Timo Digital Banking, VPBank, Seabank, Viettel, Bao Viet & GrabReward program.

This seed round funding is just a starting point for UrBox to become the one-stop reward/loyalty service solution in Vietnam. The investment from VinaCapital Ventures and VIISA will allow UrBox strengthen their merchant network and create new synergies across the companies it works with, UrBox has ambitious plans and plans to expand to other countries in Southeast Asia.

With the “seed investment”, VinaCapital Ventures and Dragon Capital (VIISA’s founders) who have investment in different sectors in Vietnam, especially in the largest listed and private companies, will help UrBox reach more potential and scalable partnerships opportunities.

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Hieu Vo, CFO of VIISA said ... “The experience in the transition of customer service from offline to online for SMEs has been painfully labored, especially with larger enterprises. We believe that UrBox’s persistence in crafting a better solution for every new business, such as UrBox’s API services, can resolve this problem for B2B clients. Through the Accelerator Program and follow-on investment, we support UrBox in their growth and working with their strategic investor, VinaCapital Ventures, who also believes in UrBox’s mission and team quality.”