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Kaddra Pte Ltd secures additional US$2.5 million seed funding from existing investors amid rapid growth.
Kaddra, the leading Loyalty, Commerce and Remarketing solution continues to scale up its product development to meet rapidly increasing market demand.
News provided byKaddra Pte Ltd
Jan 26, 2022, 7:50 PM ET
SINGAPORE, Jan. 26, 2022 /PRNewswire/ -- Kaddra, the award-winning Singapore-based tech company, announced today the closing of a US$2.5 million additional seed funding round. This investment brings Kaddra's total seed funding to US$5.5 million and will enable the company to accelerate its growth, to scale its self-service offering and bring further innovations to the market.
Kaddra is on a mission to help SMEs realise their full digital potential and be ready for the next generation of mobile, IoT and voice assistants Commerce. In 2021, the ﬁrst year of commercialisation of its platform, Kaddra has on-boarded businesses of all sizes in over 20 different sectors across several countries as it prepares to further expand into Europe.
"Kaddra has been a driving force in revolutionising the mobile martech sector with its unique approach to sales and marketing. The company has seen a signiﬁcant growth in sign-ups during Q4 2021 and continues to gain pace with new market openings and innovations. I am delighted to have the opportunity to increase my stake in the business, providing further support as it enters the next stage of growth," says Pierre Lorinet, one of Kaddra's angel investors.
The investment funding round comes amid rapid growth which has seen Kaddra achieve several key milestones, including a partnership with Indonesia's largest payment gateway DOKU, expansion into the Philippines market and over 165% growth in the last quarter alone.
The most signiﬁcant challenge facing SMEs is their inability to retarget customers which current available solutions are failing to address. Kaddra has proven its capability to improve retargeting through its innovative mobile approach with Clients having achieved up to 57% repeat customers, 18% conversion rates and over 30% incremental sales using the Kaddra solution.
"In the face of the increasing difﬁculties to navigate the digital transformation, we have brought to the market a mobile-first, automated sales and remarketing solution so that SMEs can operate like pros and grow with the resources they already have. I am very proud of the trust from our investors to support Kaddra's ambition to become a global market leader in our sector" says Quentin Chiarugi, co-founder and CEO of Kaddra.
Kaddra Pte Ltd is an award-winning Singapore-based technology company providing an all-in-one Loyalty, Mobile Commerce and Remarketing solution, powering digital storefronts for businesses in over 20 market sectors. Harnessing the power of mobile, IoT and voice assistant technologies, Kaddra improves retention and engagement, sales, marketing reach and customer service at unprecedented levels. To learn more, visit https://www.kaddra.com
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SOURCE Kaddra Pte Ltd