Hong Kong’s Mezzofy Secures $2M Funding to Expand Digital Coupon Platform Globally

Hong Kong-based digital coupon platform Mezzofy announced on Wednesday the successful completion of a Pre-Series A funding round, securing $2 million. This funding is led by Isola Capital’s IPVF VII with participation from Ooosh Tech Lab and the government-backed ITVF in Hong Kong. It is expected to support Mezzofy’s global expansion and advance its product offerings for the web3 future.

With this $2 million investment, the company aims to deepen its presence in existing markets and expand globally, targeting the United States and Europe.

Mezzofy has built an infrastructure for digital coupons that enables businesses to issue, distribute, and process coupons efficiently. Its software-as-a-service model allows companies to integrate the product without upfront platform development costs. The Mezzofy API facilitates integration with existing ERP, POS, CRM, and mobile app systems.

This allows corporations to create and manage coupon campaigns efficiently, reducing costs by over 87% compared to physical coupons while gaining valuable insights into customer behaviors to optimize marketing and sales strategies.

Despite the industry’s potential, security concerns and the complex implementation of online coupon campaigns remain challenges. Mezzofy aims to address these issues by enhancing its product capabilities with big data, AI, and blockchain technologies, positioning itself to unlock growth in the digital coupon market and prepare for the “Web3 future.”

The growing popularity of digital payments and e-commerce among Hong Kong consumers fuels the digital coupon market’s expansion. However, a common issue consumers face is the inability to share digital coupons once they receive them via an app, unlike physical coupons. “We have long identified this issue and have made digital coupons transferable by default in our solution, allowing consumers to easily share them just like sending a message,” said Dicky Ying, Co-founder and CEO of Mezzofy. This unique feature helps Mezzofy stand out in the competitive market.

Currently, Mezzofy manages a team of 40 members across research and development, product development, operational support, and commercial functions in offices in India, Singapore, Malaysia, and Hong Kong. 

The company has successfully managed 400 million digital coupons across 15 markets, including the UK, Mainland China, Hong Kong, Macau, Taiwan, Singapore, Malaysia, Japan, Korea, Indonesia, Thailand, Vietnam, India, Cambodia, and the Middle East, with a combined value exceeding $5.1 billion. This extensive reach underscores Mezzofy’s capability to scale and innovate in multiple markets.

Anthony Chan, CEO of lead investor Isola Capital, expressed confidence in Mezzofy’s growth trajectory. “Mezzofy is an exceptionally promising FinTech company, having successfully scaled its operations across Asia over the past seven years. We are excited to be a key partner in Mezzofy’s journey as it continues to develop advanced technologies and applications,” he said. 

Founded in 2014, Mezzofy has on boarded prominent merchants like Starbucks Hong Kong, Maxim’s Group, and Shell. Mezzofy’s proprietary technology ensures each digital coupon is serialized and traceable, drastically reducing the risk of fraud to just 0.00005%, thereby protecting retailers from financial losses.

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