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Appboxo Raises USD1.1 M In Seed Funding

The round was led by FF APAC Scout, aFounders Fundscout vehicle,500 StartupsSoutheast Asia focused 500 Durians fund,Plug and PlayVentures, andAntler. The comany plans to use raised funds to scale its platform and further develop its proprietary technology. Appboxo plans to add new miniapps in travel, ecommerce, finance and lifestyle industries to cover more use cases for integrations by super apps.

Singapore, 14 December 2020– Appboxo has secured USD 1.1 million in seed funding led by FF APAC Scout, aFounders Fundscout vehicle,500 StartupsSoutheast Asia focused 500 Durians fund,Plug and PlayVentures, andAntler. Appboxo platform enables any app to become a super app by providing integration software to allow the launching of miniapps within other native super apps. Through such integrations, Appboxo aims to act as a link and create an ecosystem of interconnected miniapps, allowing for global partnerships across industries.

The Singapore-based company Appboxo aims to revolutionise the mobile app industry, scale its platform and further develop its proprietary technology with this round of funding. The  startup counts Booking.com, Klook, Zalora, and multiple other global companies as their partners.

Appboxo was established in 2019 by founders Kaniyet Rayev (CEO) and Nursultan Keneshbekov (CTO) through the Antler Singapore program.

“Appboxo is in a unique position to revolutionise the mobile app space via its platform. India is the second country in the world widely adopting miniapps as a new digital channel after China. PhonePe, Paytm and Google Pay all launched their own miniapp platforms and show good results in terms of miniapp engagement and adoption. Our vision is to democratise this space and enable any app in India to become a super app and offer multiple services via our platform. We are excited to continue growing our platform with new partners across industries,”explains Kaniyet.

According to Appboxo’s CEO Kaniyet, companies in regional markets such as Indonesia might miss out on opportunities for integrative technology such as Mini Programs (lightweight applications running within host apps), which was pioneered by WeChat and later picked up by other giants such as Alipay, Baidu, and Bytedance. Appboxo platform fills this gap in the market and is suited to meet the growing trend and demand for facilitating the integration of third party services within apps.

Appboxo also partnered with major enterprise partners such as banks, telcos and mobile wallets to turn their apps into super apps.

“We are excited to work with excellent founders to help them realise their vision of disrupting the tech industry. Appboxo is well primed to facilitate global partnerships between companies in various industries. In the current market of super apps such as WeChat and Alipay, Appboxo offers the opportunity for any app to follow in their footsteps. This would cater to the growing consumer need for an efficient and integrated user experience,” says Vishal Harnal, General Partner, 500 Startups.

“This trend in superapps has been growing but only very large players have been able to create such integrated massive platforms. Appboxo is leading the way to democratise this space and let smaller businesses leverage on the super app phenomenon,” says Jussi Salovaara, Co-Founder and Managing Partner, Antler.

Source: Business World

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