Singapore-based app-making platform Appboxo recently announced to have raised USD 7 million in a Series A funding round that was led by RTP Global. The investment round also saw participation from existing investors 500 Southeast Asia, and Antler; angel investors Kayvon Deldar, and Huey Lin; along with new investors like Gradient Ventures, and SciFi VC.
Notably, deep-pocketed ‘super apps’ like Alibaba, WeChat, and Grab have recently leveraged the concept of mini-apps, which are lightweight programs that operate with a larger app and act as revenue and engagement boosters.
Appboxo seeks to level the playing field by allowing developers to transform apps into super apps, by either creating mini-apps or by gaining access through the Appboxo Showroom, which is a market for third-party developers.
The startup was founded in 2019 by CEO Kaniyet Rayev and CTO Nursultan Keneshbekov. Appboxo, which has a consumer base of over 500 million, is presently used by 10 super apps across India, Southeast Asia, and South Africa, and assists more than 400 mini-app integrations, the majority of which are created by third-party developers.
It has two main product offerings - the first is Miniapp, a SaaS platform with APIs and SDKs for creating as well as launching mini-apps. The second product, which was launched about one year ago, is Shopboxo. It lets organizations set up personalized online stores using mobile devices in less than a minute.
Then mini-apps created using Shopboxo can be transformed into super apps with Appboxo, and CEO Rayev expects that being able to capture a larger SME merchant base will enable the company to scale its volume of mini-apps to thousands this year.
Appboxo intends to mainly operate in the Asia-Pacific since the region has substantial demand for super apps. However, it also plans to expand to markets in Europe and the United States soon.
Source Credits –
https://techcrunch.com/2022/02/15/appboxo-raises-7m-to-turn-any-app-into-a-super-app/