True Digital Group (TDG), the digital subsidiary of Thai telecom True Corporation, has invested an unknown sum in Filipino loyalty and e-commerce platform ZAP.
ZAP is to utilise the funds to build a one-stop-shop that collects all customer-merchant interactions and adds value through the different tools and services it offers.
“To help close the gap in consumer’s digital journey, we see a very hopeful opportunity with ZAP as the local market expert. We believe that together, we will be able to deliver an exciting experience for consumers in the Philippines,” said Dindo Marzan, True Digital Group Country Head in the Philippines.
ZAP was founded in 2013 with the goal of assisting small and medium-sized food and beverage businesses in going online. During the epidemic, the corporation shifted gears and in June 2020, the E-Store service was introduced. Since then, it has grown fivefold, from 75 outlets in August 2021 to 483 F&B businesses.
ZAP now has over four million users and 2,000 retail locations.
“Our initial investment in ZAP was backed by the belief that their platform could digitise the Filipino consumer and enterprise experience,” said Minette Navarrete, President of Kickstart Ventures. “Over the last decade and through a pandemic, they’ve continued to prove the value of their unified data and analytics platform that has provided enterprises with a strategic advantage to develop and promote consumer products.”
In 2012, ZAP was a part of Kickstart Ventures’ first group of portfolio companies. Globe’s corporate venture capital arm, Kickstart, invests in early-to-early growth-stage tech businesses in the Philippines and throughout the world, particularly in key innovation hotspots such as Singapore, Indonesia, Malaysia, Canada, the United States, and Israel.
