The fresh capital will be allocated to expedite the platform adoption and diversify the product innovations.
Heaptalk, Jakarta — A monetization platform for content creators in Southeast Asia, TipTip, has closed a Series A funding round worth USD13 million following the startup’s USD10 million seed round earlier this year. This investment round is led by East Ventures and bolstered by several venture capitals, including Vertex, SMDV, B.I.G, and prominent angel investors.
Responding to this new accomplishment, the CEO and Founder of TipTip, Albert Lucius, stated, “We are incredibly honored and delighted by the continued trust and support of Southeast Asia’s leading investors in our oversubscribed Series A round,”
According to his statement, this startup will utilize the capital to expedite the platform adoption and diversify the product innovations to spot the TipTip platform as the top digital application devoted to content creators in Southeast Asia.
Leading the latest investment, Co-Founder and managing Partner of East Ventures, Wilson Cuaca, affirmed his confidence in TipTip’s Founder, Albert, leadership as the valuable experience in creating and managing the Kudo company before being acquired by Grab in 2017 has been proven in delivering robust navigation to face a turbulent economy prediction in the coming 2023.
“We expect this platform continues to perform its exponential enhancement trajectory on the back of its hyperlocal strategy, which adapts quite well to carry out the customer and creators behavior transformation in the post-COVID era. We are excited to continue backing up TipTip, realizing the existence of immense development opportunities on the horizon,”
With over 675 million population, this Indonesia’s digital content platform intends to play a critical role in developing the creator economy in Southeast Asia. As recorded by the company, on average, creator-promoters can earn more than USD200 within 30 days of being active on this platform. They can bag earnings by selling their content directly or via TipTip’s promoter network and engaging fans through the live sessions feature.
Supported this investment round, the Managing Partner of Vertex, Joo Hock Chua, stated, “We believe in TipTip’s creator-promoter-supporter approach, which is designed to serve the long-tail market of the creator ecosystem. The company is unique in solving the current problem of creators, which is monetization within their micro-communities. With the assistance of TipTip’s promoter network, this app enables creators to monetize their content directly, removing the dependency on a sheer number of views or advertising clicks.”
The business enhancement of the TipTip platform
Established in October 2021, Albert aims to fill the void in serving the region’s rapid growth of content creators. For this reason, this digital platform offers a marketplace that links directly between the creators and their audiences, where they are accessible to establish their creative content, showcase, and monetize by selling their content creations digitally.
Since its official launch in Indonesia last July 2022, TipTip has obtained incredible market recognition by growing its revenue by over twenty folds until October 2022. Through its hyperlocal strategy, this startup has also built a hybrid presence across 40 cities in Indonesia.
Currently, this creative digital content possesses over 22,500 creators and over 30,000 users. To strengthen its existence as the content creators’ ecosystem, the company aims to target around 150,000 users and 15,000 creators and broaden its coverage to the national level until Q2 of 2023, one of which is the latest new campaign establishment, namely Do it on TipTip in the last November this year.
Perceiving the significant development of the platform, the President Commissioner of TipTip and former Minister of Indonesia’s National Creative Agency (BEKRAF), Triawan Munaf, this startup is well-positioned to comprehend and serve the local necessities across the region. Thus, he continues to bolster the company by reinforcing the monetization experiences for content creators in Southeast Asia, including Indonesia.
