Singapore-based MobiKon, a marketing and customer engagement platform for restaurants, has reportedly partnered with Bank of the Philippines Islands (BPI) in Manila to expand its footprint in the Southeast Asia market.
The company works with 1,500 restaurants across India, Singapore, Malaysia, Macau, Philippines, and Dubai and will have 1,800 restaurants post this partnership, as it will add 300 restaurants more in the portfolio.
This will be a win-win situation for both the parties as BPI will provide Mobikon’s platform and analytics dashboards to restaurants which help BPI bank to gain higher share of mind among its merchants and position the bank as a highly contemporary leading bank in Philippines.
“Apart from organic growth for the company, one of the key pivot in our strategy is where we target larger brand as a reference point for other brands to follow. The rewards program given out by banks is commoditised. We saw an opportunity for a win-win tripartite partnership with BPI,” Anuj Jain, vice-president, Asia-Pacific, Mobikon, was quoted as saying.
Through this contract-based partnership, BPI will provide Mobikon’s customer relationship management platform to restaurants on a tablet as a ready-to-use value-added solution. In turn, BPI will advertise its offering on Mobikon’s platform to restaurant brands as self-promotion and to strengthen relationships.
Mobikon is also in talks with other leading banks in India and other markets and also exploring strategic partnerships with mPOS & cloud POS companies.
Since January this year, Mobikon has raised close to USD4 million from Jungle Ventures, Life Sreda and Qualgro. It has also strengthened its market reach in Singapore this year by acquiring Triibe, a customer feedback platform in SEA markets.
Mobikon claims its revenues are upwards of USD500k and is expecting 200 per cent growth by the end of this financial year.