Cashtree, an Indonesian startup that offers a mobile lock screen advertising service, raised US$4m in Series A funding.
Backers included Korea Investment Partner and K Cube Ventures.
The company intends to use the funds to develop its platform and expand its markets.
Led by Founder Dallen Kim, Cashtree provides a mobile advertising service which turns lock screen into a billboard for incentivized ads. The company shares advertising revenue with users. Earned point can be exchanged with Pulsa, allowing users to consume more data with their smartphone.
The Android service is used by over 4 million users.