Main Highlights:
- Appboxo’s technology enables developers to turn existing applications into super apps, either by creating their mini-apps or by utilizing the Appboxo Showroom, a marketplace for third-party developers.
- Appboxo, which counts GCash, Paytm, and VodaPay among its clients, has announced a $7 million Series A funding round led by RTP Global. Antler and 500 Southeast Asia also participated, as did new investors SciFi VC, Gradient Ventures (Google’s AI-focused venture fund), and angel investors Huey Lin and Kayvon Deldar.
- Currently, the business powers over 400 mini-app integrations, produced mainly by third-party developers across Southeast Asia, India, and South Africa.
- The second, founded almost a year ago, is Shopboxo, enabling businesses to construct customized web shops entirely in less than 30 seconds utilizing mobile devices.
- Then, mini-apps developed with Shopboxo can be integrated into super-apps created with Appboxo, and Rayev anticipates that reaching a more extensive merchant base of SMEs will scale the number of mini-apps into the thousands this year, particularly given that Appboxo’s clients already use its platform primarily for e-commerce.
Mini-apps are little applications that operate inside a more extensive application and provide extra user interaction and income opportunities. They gained popularity as a result of “super applications” such as WeChat, Alibaba, and Grab. However, not all developers have the resources of these IT behemoths. Appboxo, based in Singapore, aims to level the playing field.
The startup’s platform enables developers to transform existing applications into super apps, either through the creation of their mini-apps or through the Appboxo Showroom, a marketplace for third-party developers.
Appbxo, whose clients include GCash, Paytm, and VodaPay, has announced a $7 million Series A investment round headed by RTP Global. Among the other participants were Antler and 500 Southeast Asia, as well as new investors such as SciFi VC, Gradient Ventures (Google’s AI-focused venture fund), and angel investors Huey Lin and Kayvon Deldar.
Kaniyet Rayev created Appboxo in 2019 and Nursultan Keneshbekov as CEO and CTO. It was initially covered by TechCrunch in December 2020, when the company revealed its seed investment. The firm is presently used by ten super applications in Southeast Asia, India, and South Africa and powers over 400 mini-app integrations, the bulk of which are developed by third-party developers. According to the corporation, it has a combined user base of more than 500 million.
The company’s primary products are two. The mini-app is the first SaaS platform that includes SDKs and APIs for developing and launching mini-apps. For instance, mobile wallets might have mini-apps for ordering meals, shopping, and making restaurant reservations.
The second, established roughly a year ago, is Shopboxo, enabling businesses to create fully customized web storefronts using mobile devices in less than 30 seconds.
Then, mini-apps developed with Shopboxo can be integrated into super apps created with Appboxo, and Rayev anticipates that reaching a more extensive merchant base of SMEs will scale the number of mini-apps into the thousands this year, especially given that Appboxo’s clients already use its platform primarily for e-commerce. Financial super apps are looking to expand into other verticals, and in the present scenario, e-commerce appears to be the most prominent and straightforward choice.
Rayev tells that the additional financing would be used to enhance Shopboxo’s merchant network and worldwide footprint. The business will first focus on the Asia-Pacific area, where super applications are most prevalent, but it also plans to expand into Europe and the United States.
About Appboxo
Appboxo is a mobile application platform that enables businesses to find and integrate full-screen mini-apps and monetize their app’s user base. Collaborations with affiliate networks to drive affiliate traffic to their mini-apps. Nursultan Keneshbekov and Kaniyet Rayev formed the firm in 2019, and it is located in Singapore.
