Hong Kong, 5 June 2024: Mezzofy announced the completion of a USD 2 million Pre-series A funding round to fuel global expansion and product development for the web3 future. The round was led by Isola Capital’s IPVF VII, with participation from Ooosh Tech Lab and co-investment from the Hong Kong government’s ITVF.
Digital coupons, often in QR code form, offer a convenient, paperless, and secure option for today’s digital-savvy consumers, especially post-pandemic. Brands globally have adopted digital coupons to match changing consumer behavior while reducing paper waste. The global digital coupon market is expected to grow at a CAGR of 18.6%, reaching USD 29.7 billion by 2031, with APAC as the second-largest market.
Reduce 87% Operation Cost & Fraud Risk to 0.00005%
Nearly 100 brands in Asia-Pacific, including Maxim’s, Starbucks, Shell, and Hyatt, run digital coupon campaigns on Mezzofy’s platform. Mezzofy’s CaaS (Coupon-as-a-Service) model allows companies to integrate with existing systems via API, reducing costs by over 87%. Mezzofy also ensures coupon traceability, cutting fraud risk to just 0.00005%.
“The growth of digital payments and e-commerce drives the rise of digital coupons. However, some users face difficulties sharing them, unlike physical coupons. We addressed this by making digital coupons transferable. Consumers can easily share them like a message, making Mezzofy unique,”
Dicky Ying – CEO of Mezzofy
Managing Over $5.1 Billion in Coupons Across 15 Markets
Mezzofy manages 400 million digital coupons across 15 markets, with a total value of over USD 5.1 billion. With the recent funding, Mezzofy aims to expand globally, targeting the US and European markets. The company will also enhance its platform using AI, big data, and blockchain technologies.
“Mezzofy has successfully scaled operations in Asia over the past seven years. We believe in its potential to continue innovating and growing, and we’re excited to be part of this journey,” said Anthony Chan, CEO of lead investor Isola Capital.
