Indonesia-based Southeast Asian monetization platform TipTip has secured US $13 million in a series A round that was co-led by East Ventures and included participation from Vertex, SMDV, and BIG Ventures, among others.
Influencers may publish content on TipTip’s platform and interact with their audience directly. In 40 Indonesian locations, the firm has created an online and offline presence.
According to the business, it presently has more than 2,500 content providers and over 30,000 users. By the beginning of next year, it hopes to have 300,000 subscribers and 30,000 influencers.
The business reported a 20x increase in revenue since October 2022.
TipTip was established in October 2021 by Albert Lucius, a former Grab director, but its platform didn’t become live until July of this year. Before joining Grab in 2017, Lucius served as CEO of the online-to-offline marketplace Kudo.
The extra funding, according to Lucius, will be used by the business to strengthen its products, increase usage, and expand.
The most recent investment round for TipTip took place in March when it received $10 million in initial money from East Ventures, Vertex Ventures, Emtek Group, and SMDV.