Indonesia-based Snapcart has launched its consumer market analytics services to Singapore. This followed a US$10 million Series A funding round led by Singapore venture capital Vickers Ventures Partners. The funding round also includes investors such as SPH Ventures (formerly SPH Media Fund) and Wavemaker Partners.
According to Teresa Condicion, co-founder and COO/data science at Snapcart, the company is launching in Singapore to meet its growing demand from clients for more innovative solutions. This is in a bid to better understand the Singapore market.
“It is also a strategic location for us because majority of our regional clients are based here, allowing us to serve them better,” Condicion said, adding that Singapore also gives the company greater access to tech talent to support its continuous artificial intelligence (AI) research, in a “vibrant start-up environment”.
Following the move to Singapore, Snapcart has also appointed Soon Lee Lim (pictured left) as chief revenue officer for Asia Pacific, who was most recently YouGov’s head of Indonesia and Malaysia. Before that, she was country head for Kantar Worldpanel Indonesia.
It also brought on board Eko Wicaksono (pictured centre) as country sales and operations director for Indonesia and Raymond Ajon (pictured right) as country sales and operations director for Philippines. Wicaksono and Ajon were from ABN Impact and Nielsen respectively.
“I am truly excited about Snapcart’s potential to deliver data-driven insights into consumer behavior. In a highly developed market such as Singapore, which has savvy and advanced shoppers, I am confident that our product can give customers real value,” Lim said.
From February 2018, shoppers can download the Snapcart app on both IOS and Android, allowing consumer brands access the company’s data-driven shopper and consumer insights. Snapcart is already active in Indonesia and the Philippines, with over one million downloads globally since its launch in 2015.
As opposed to traditional survey methods which may be seen as time-consuming, Snapcart collects purchase data and gives shoppers cashback for scanning their receipts. These receipts are then processed and analysed to provide real-time analytics to clients and partners.