The round was led by Traveloka, a leading technology company that provides online travel and lifestyle products for domestic and international destinations, with co-investment by SPH.
BANGKOK, THAILAND – Media OutReach – 27 June 2019 – Emerging as a leader in digitizing mass participation events and venues through the use of NFC technology, PouchNATION (pouchnation.com) has secured a Series B investment round from Traveloka and SPH Ventures. PouchNATION’s evolution and expansion has come with the success of its innovative cashless wristbands utilized in some of the biggest events in Asia: Zoukout, BeerFestAsia (Singapore), Good Vibes (Malaysia), Sensation (Thailand), etc.
“This investment deal augments PouchNATION’s position as the leader in its sector, but also builds the fundamentals for a broader vision,” said PouchNATION CEO Ilya Kravtsov. “The company plans to transition from being just a service provider for events and venues to being a leading entertainment platform that connects hundreds of thousands of event-goers and attraction seekers across Asia with e-commerce giants, brands and other players seeking to get visibility and exposure among their target customers”.
From its beginnings as a cashless payment wristband for events in 2014, PouchNATION has evolved to become a one-stop solution for the largest event organizers, theme parks and hospitality venues by providing services that range from ticketing/ registration, to access control/ security, cashless payments, brand activations, data collection/ insights and others. PouchNATION’s system currently handles on average over 5mln USD in transaction value per month, a number sure to grow as the lineup of upcoming clients is growing significantly.
Besides its two existing verticals of PouchEVENTS and PouchVENUES, the company will soon be launching its third line of product, PouchDIGITAL, focusing on providing a more scalable and lowcost solution for event organizers with low budgets but with extremely high-volume events. “We are very excited to launch our new vertical that will unlock a whole new segment of clients that currently still use very traditional methods to manage events and venues. Furthermore, by digitizing more crowds and by collecting more consumer data, we are on a mission to attract more brand sponsorships to this industry in the region.” says PouchNATION COO David Rapaport.
PouchNATION is a leading offline-to-online solutions for events and recreational venues space in Asia. Operates in Singapore, Philippines, Indonesia, Malaysia, Vietnam and Thailand.