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20 Feb '13, 7am

TNF Ventures invests USD 475k in mobile wallet app Mogi

TNF Ventures invests USD 475k in mobile wallet app Mogi

TNF Ventures invests USD 475k in mobile wallet app Mogi February 20, 2013 by Terence LEE Singapore-based early stage fund TNF Ventures has invested SGD 588K (USD 475K) in MoGi , a mobile wallet app developed by Mobile Media Creations. The Singapore government’s National Research Foundation is a co-investor through the Technology Incubation Scheme. Available on iPhone and Android for free, MoGi enables users to store virtual pre-paid cards, rewards programs, and discount coupons to over 220 dining, health, retail, and beauty outlets in Singapore. Users can even send gifts to one another. It was launched in October 2012. While there has been quite a number of apps in Southeast Asia in the mobile loyalty space — Perx , Squiryl , and ChopChop come to mind — none of them have have ventured fully into e-commerce. Zap in the Philippines is making a valiant attempt, but it’s a pro...

Full article: http://sgentrepreneurs.com/2013/02/20/tnf-ventures-invest...

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