Appboxo, a Singapore-based super app platform, raised $7m in Series A funding.
The round was led by RTP Global with participation from Antler and 500 Southeast Asia, as well as new investors SciFi VC, Gradient Ventures – Google’s AI-focused venture fund, and business angels Huey Lin and Kayvon Deldar.
The company intends to use the funds for further product development and international expansion. Appboxo will further develop Shopboxo, expand its merchant ecosystem by bringing more businesses to the app, and build out its international partnerships and presence. Global expansion will initially focus on the Asia-Pacific region where super apps are on the rise, followed by Europe and the US.
Established in 2019 by founders Kaniyet Rayev (CEO) and Nursultan Keneshbekov (CTO), Appboxo connects miniapps to super apps and powers the integration between them. The platform allows apps to offer multiple third-party services and increase revenue by generating commission from each transaction.
The company offers two products, Appboxo Miniapp Platform and Shopboxo. Their Appboxo Miniapp Platform simplifies the process of transforming any app into a super app with user-friendly software development kits (SDKs) and application programming interfaces (APIs). The platform offers a SaaS software that is accessible to all developers, allowing them to easily create and launch miniapps.
The second product, Shopboxo, helps entrepreneurs, brands and SMEs create online stores to offer their goods and services directly to consumers. Businesses can set up an online store via their mobile phones; Shopboxo provides all the essential tools for entrepreneurs to run their business thereafter. Each storefront is customisable, and integrating it with super apps through Appoxo’s Miniapp opens up a wide variety of sales and marketing capabilities, as well as additional customer acquisition channels for businesses.
The company is currently working with some of the largest super apps across Southeast Asia, India and South Africa, including GCash, Paytm, and VodaPay. Appboxo boasts a combined base of more than 500 million users and has worked with more than 250 small and medium businesses.
FinSMEs
16/02/2022