TipTip, a monetisation platform for content creators in Southeast Asia, has secured its US$13 million Series A funding round, following the startup’s US$10 million seed round funding earlier this year. The platform currently houses more than 2,500 content creators and over 30,000 users and aims to recruit more than 30,000 creators and 300,000 users by early next year.
Some of the content creators on TipTip include Mona Indra (parenting and relationship), Zola Yoana (parenting and relationship), Pishi Yoga (sports and wellness), Ayrton Eduardo (personal development) and Sean Gelael (automotive), as seen by MARKETING-INTERACTIVE on its website.
The Series A funding was led by East Ventures with continued participation from Vertex, SMDV, B.I.G. Ventures and prominent angels. On average, creator-promoters earn more than US$200 within 30 days of being active at TipTip. Creators can earn income on the platform by selling their digital contents directly or via TipTip’s promoter network, as well as engaging fans through live sessions.
With over 675 million population, TipTip aims to play a vital role in growing the creator economy in Southeast Asia. Triawan Munaf, president commissioner of TipTip and former minister of Indonesia’s National Creative Agency explained: “As a platform founded by an Indonesian and managed by experienced regional leaders from Southeast Asia, I believe that TipTip is well positioned to understand and serve the local needs across the region."
Albert Lucius, CEO and founder of TipTip, said TipTip is incredibly honoured and delighted by the continued trust and support of Southeast Asia’s leading investors in its oversubscribed Series-A round. “We truly appreciate the partnership and we will use the funding to accelerate our platform adoption, diversify our product offerings and position TipTip as the top platform for content creators in Southeast Asia,” he added.
TipTip was founded in October 2021 by Lucius to fill the void in serving the fast growth of content creators in the region. It offers a marketplace that connects content creators and their fans, where they can create content, showcase and monetise by selling their digital content creations. The platform has seen market acceptance since its official launch in Indonesia back in July 2022. According to the company, its revenue grew more than 20 times in the last two months alone since October 2022. At the same time, the brand said that its hyperlocal strategy has also seen success in establishing hybrid online/offline presence across 40 cities in Indonesia.
Its marketing team is led by CMO Paulina Purnomowati who was previously VP of corporate development and strategy at Evolve MMA. Purnomowati also worked for Mount Scopus Group Indonesia and Valiram as chief commercial officer and country manager respectively, as seen on her LinkedIn profile.
Willson Cuaca, co-founder and managing partner at East Venture, said that it expects TipTip to continue its exponential growth trajectory on the back of its hyperlocal strategy which adapts really well to the changing creator and customer behavior in the post-COVID era. "There are immense growth opportunities on the horizon and we are really excited to continue supporting TipTip," he added.
Joo Hock Chua, managing partner of Vertex, added that Vertex believes in TipTip’s creator-promoter-supporter approach, which is designed to serve the long-tail market of the creator ecosystem. According to Chua, the company is positioned to solve real problems content creators are facing, which is monetisation within their micro-communities. With the assistance of TipTip’s promoter network, the platform enables creators to monetise their content directly without depending on the number of views or advertising clicks.
Separately, East Ventures raised a total of US$550 million in the final close of its latest funds to focus on Indonesia and Southeast Asia startups in May. The firm planned to allocate US$150 million for early-stage deals and US$400 millions for growth-stage deals.
According to the capital firm, it has experienced significant growth in its portfolio, with more than 200 portfolios from seed to growth stages. The firm is managing over US$1 billion assets under management and has attracted US$6.7 billion in follow-on funding for the portfolio companies. Additionally, it has recorded more than US$86 billion of annualised GMV in aggregate by its portfolio.
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