Isola Capital’s Isola Private Equity Venture Capital Fund VII (“IPVF VII”) led the round, together with co-investment partners including Hong Kong’s The Innovation and Technology Venture Fund (“ITVF”), and Ooosh Tech Lab. The Hong Kong-headquartered FinTech start-up has helped businesses to issue, distribute and process over 400 million digital coupons across 15 markets in the Asia-Pacific region since launched in 2016.

Nearly 100 brands across the Asia-Pacific region, including Maxim's Group, Starbucks Hong Kong, Hong Kong Electric, Shell, SaSa, Hong Kong Housing Society, and Hyatt Hotels Corporation have chosen to run their digital coupon campaigns on the Mezzofy platform. Mezzofy's CaaS (Coupon-as-a-Service) model allows corporations to use the product right out of the box without having to invest an upfront cost to develop their own platform from scratch and can also integrate with their existing mobile apps, CRM, POS or ERP systems seamlessly via Mezzofy API. Compared to physical coupons, marketers can reduce over 87% of cost running their coupon campaigns digitally, at the same time understand customer behaviours through analysing data of the digital coupon usage for optimising marketing and sales strategies. More importantly, as fraudulent coupons could cause severe damage of millions of dollars to retailers annually^[4], Mezzofy makes every digital coupon serialised and traceable, reducing risks of fraudulent digital coupons to just 0.00005%, thanks to our proprietary technology.

Dicky Ying, Co-founder and CEO of Mezzofy, said: "The growing popularity of digital payment and ecommerce among Hong Kong consumers aids the digital coupon market to bloom. However, some consumers face a pain point when using digital coupons is that once they receive it via an app, it has to be stored in their own device, they cannot pass it to their friends and families, unlike a physical coupon, hindering them to actually use it. We have long identified the issue thus we have set the digital coupons as transferable by default in our solution; consumers can easily share it, just as sending a message to their friends. These are just one of the things that make Mezzofy unique in the market and stand out in the competition."

Currently managing a team of 40 members spanning across R&D, product development, operational support and commercial functions at offices in India, Singapore, Malaysia, and the Hong Kong headquarters respectively, Mezzofy has managed 400 million digital coupons across 15 markets (Hong Kong, Macau, Mainland China, Taiwan, Singapore, Malaysia, Japan, Korea, Indonesia, Thailand, Vietnam, India, Cambodia, the Middle East, and the United Kingdom), the value of which exceeds USD 5.1 billion^[1]. With its Pre-series A funding, Mezzofy will deepen its presence and gain greater market share in these markets, at the same time go global to reach the US, the largest digital coupon market, as well as in Europe. The company also plans to advance its product capabilities using big data, AI and blockchain technologies.

Anthony Chan, CEO of the lead-investor Isola Capital said: "Mezzofy is an exceptionally promising FinTech company, especially given its ability to successfully scale and grow its operations in multiple markets in Asia over the past seven years. We have confidence in Mezzofy and its ability to continue to innovate and develop advanced technologies and applications, and we are excited to be an important partner in Mezzofy's exciting journey."

Hashtag: #Mezzofy

The issuer is solely responsible for the content of this announcement.

References

1. ^{^} Media OutReach Newswire (www.media-outreach.com)
2. ^{^} Mezzofy (www.mezzofy.com)
3. ^{^} Transparency Market Research (www.transparencymarketresearch.com)
4. ^{^} fraudulent coupons could cause severe damage of millions of dollars to retailers annually (fingerprint.com)