Wings to fly
- 500-backed micro-blogging platform Koo has announced a partnership with CleverTap, an omnichannel customer engagement and user retention platform. The decision comes after Koo leadership’s successful collaboration with CleverTap on their first product, Vokal.
- The partnership was founded to help Koo achieve its goal of connecting with millions of users. CleverTap’s real-time, data-driven insights have proven to lead to high user engagement and retention, and the startup hopes to engage more app users.
- Co-founder Mayank Bidawatka said, “Our partnership with CleverTap will be instrumental in creating actionable user segments and keeping users engaged on our platform. We believe that CleverTap’s real-time insights and omnichannel solutions will not only help us establish a stronger connection with our existing users, but also attract more customers.”
- He added that the startup is confident that it will be able to achieve a double-digit increase in the overall app sessions.
- Read the full story here.
Wheeling in the benefits
- 500-backed bicycle insurtech startup Laka has launched a bike shop membership program designed for retailers. Via plug-and-play online technology, retailers can create their own customer membership program.
- The membership program is free to participating retailers who register their interest. Members are provided with their own dedicated, co-branded membership website, together with a package of co-branded marketing collateral. All aspects of membership, from handling payments to customer support, are handled by Laka..
- They can also tailor their own membership programs’ benefits to suit their own customers, for example, by providing additional perks such as an annual service, a loyalty discount on accessories, or free puncture repairs.
- Within each membership, Laka includes some ‘must-have’ protection for the cyclist, including up to ~US$280 of emergency travel expenses, third-party liability cover, legal cover, and 30 days free bike insurance cover against theft and accidental damage.
- Read the full article here.
Supercharging a society
- 500-backed super app Grab has released its environmental, social, and corporate governance (ESG) report for 2020. Here are some highlights:
- Driver- and Merchant-partners earned a total of US$7.1 billion
- 46% of driver-partners did not earn an income prior to joining Grab
- 33% of GrabFood merchants went online for the first time with Grab
- Over 1,100 deaf and physically-impaired partners have signed up onto the platform
- US$670,000 in education scholarships provided to driver partners’ children
- Reduced waste of 380 million sets of single-use plastic cutlery
- Read Grab’s full ESG report here.
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500 Startups is a venture capital firm on a mission to discover and back the world’s most talented entrepreneurs, help them create successful companies at scale, and build thriving global ecosystems. In Southeast Asia, 500 Startups invests through the pioneering 500 Southeast Asia family of funds. The 500 Southeast Asia funds have backed over 240 companies across multiple sectors from internet to consumer to deep technology. It continues to connect founders with capital, expertise and powerful regional and global networks to help them succeed.
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