Appboxo, a Singapore-based super app platform, raised $7 million in Series A funding round led by RTP Global, with participation from Antler and 500 Southeast Asia, as well as new investors SciFi VC, Gradient Ventures – Google’s AI-focused venture fund, and business angels Huey Lin and Kayvon Deldar.
The company intends to use the funds for further product development and international expansion. Appboxo will further develop Shopboxo, expand its merchant ecosystem by bringing more businesses to the app, and build out its international partnerships and presence.
Global expansion will initially focus on the Asia-Pacific region where super apps are on the rise, followed by Europe and the US.
Company: Appboxo Pte. Ltd.
Raised: $7.0M
Round: Series A
Funding Month: February 2022
Lead Investors: RTP Global
Additional Investors: Antler, 500 Southeast Asia, SciFi VC, Gradient Ventures – Google’s AI-focused venture fund, Huey Lin and Kayvon Deldar
Company Website: https://appboxo.com/
Software Category: App platform
About the Company: Established in 2019 by founders Kaniyet Rayev (CEO) and Nursultan Keneshbekov (CTO), Appboxo connects miniapps to super apps and powers the integration between them. The platform allows apps to offer multiple third-party services and increase revenue by generating commission from each transaction. The company offers two products, Appboxo Miniapp Platform and Shopboxo. The platform offers SaaS software that is accessible to all developers, allowing them to easily create and launch miniapps. The company is currently working with some of the largest super apps across Southeast Asia, India, and South Africa, including GCash, Paytm, and VodaPay. Appboxo boasts a combined base of more than 500 million users and has worked with more than 250 small and medium businesses.
Source: https://www.finsmes.com/2022/02/appboxo-raises-7m-in-series-a-funding.html