Following a $10 million Series A funding round led by Singapore venture capital Vickers Ventures Partners, and includes investors such as SPH Ventures (formerly SPH Media Fund) and Wavemaker Partners, trailblazing Asian analytics startup Snapcart is expanding its consumer market analytics services to Singapore.
Starting 1 February 2018, shoppers will be able to download the Snapcart app on both IOS and Android, while consumer brands will be able to access the company’s data-driven shopper and consumer insights. Snapcart is already active in Indonesia and the Philippines, with over one million downloads globally since its launch in 2015.
Ms. Teresa Condicion, Co-Founder & COO/Data Science at Snapcart, said, “We are launching here to meet the growing demand from clients for a more innovative solution to better understand the Singapore market. It is also a strategic location for us because majority of our regional clients are based here, allowing us to serve them better. In addition, it gives us access to great tech talents to support our continuous Artificial Intelligence (AI) research, in a vibrant start up environment.” Ms. Condicion was previously associate director of consumer and market knowledge at Procter & Gamble.
Unlike time-consuming traditional survey methods, Snapcart collect purchase data and gives shoppers cashback for scanning their receipts. These receipts are then processed and analyzed by its proprietary technology, AI-based Optical Character Recognition, to provide real-time analytics to clients and partners.
Strengthening its already formidable industry credentials, Snapcart also announced the appointment of Ms. Soon Lee Lim as Chief Revenue Officer for Asia-Pacific, Mr. Eko Wicaksono as Country Sales & Operations Director for Indonesia and Mr. Raymond Ajon as Country Sales & Operations Director for Philippines. Ms. Soon Lee was formerly Country Head for Kantar Worldpanel Indonesia and Head of Indonesia & Malaysia for YouGov while Mr. Wicaksono and Mr. Ajon were from ABN Impact and Nielsen respectively. Together, the three have more than 50 years of experience in consumer research.
Photo (L-R): Ms. Soon Lee Lim, Chief Revenue Officer for Asia Pacific; Mr. Eko Wicaksono, Country Sales & Operations Director for Indonesia; Mr. Raymond Ajon, Country Sales & Operations Director for Philippines
Ms. Soon Lee said, “I am truly excited about Snapcart’s potential to deliver data-driven insights into consumer behavior. In a highly developed market like Singapore, which has savvy and advanced shoppers, I am confident that our product can give customers real value. We are on the front lines of innovation and aim to push the digital frontiers in pursuit of new market opportunities.”