WisePass, a subscription-based lifestyle startup has raised $400K in seed funding. The Singaporean based company was founded by an ex-Google that aims at solving a critical problem, which is to apply performance marketing for brands selling offline in the HORECA segment ( Hotel, Restaurant, Cafe).
The app started in Ho Chi Minh City Vietnam and charges $264 US per month for the ability to claim one complimentary bottle, lunch or dinner each day at a different restaurant, 5 star hotel, bar or club.
It’s a win-win; as the venues get traffic and sales for free while WisePass members get to discover new venues or come back to their favourite places. The app works with almost 100 locations across Vietnam.
The way WisePass works with venues is simple. It establishes a list of criteria providing the best consumer experience for its members and then approaches the location to buy their set lunch or dinner.
For liquor brands, it’s different. WisePass purchases directly from the brands and uses a proprietary AI to analyse real time consumer behaviour by spirit, age and gender to give the heartbeat of every city to purchase from the right supplier at the right time for replenishment. We’re connecting with almost 90% of global brands and we are driving more than 1,000 visits monthly to our partners today says Lam Tran CEO and founder of WisePass.
The complexity in this business is that the demand is not linear and the distribution of the inventory we have at every bar needs to be handled differently. The tech we have built is learning from the user behaviour. Hence we can over time understand better what we should purchase at which cost and when to ensure the demand is met in every location we have partnered with.
WisePas will use the funding to roll out in South East Asia and expand its user base to drive 10,000 visits monthly across 500 different locations. With that volume, we can analyse and provide a good picture of various markets and let some brands invests their marketing budget and get a guaranteed ROI on our platform.
With WisePass you will be able to invest X and get a guaranteed 10X back within 3 to 6 months at scale. That is the holy grail for many brands to have a clear sales attribution methodology with a proven ROI.
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