YOYO Gets Funds for Mobile Platform

Singapore-based rewards platform YOYO Holdings has raised $1.3m, which it will use to drive business growth, strengthen its management team and staffing levels and boost its marketing efforts.

The firm targets prepaid mobile phone users through its 'Candy' rewards platform, inviting them to participate in market research surveys and in-store promotions. Once they have completed a task, users receive free minutes on their mobile. The tool is currently available in the Philippines, Indonesia and Thailand, and has around 250,000 registered users.

YOYO Holdings is led by CEO Yosuke Fukada (pictured) who before co-founding the firm, worked for Japanese mobile gaming firm DeNA. The new funds were raised through the allocation of new shares to Tokyo-based firms GREE Ventures, CyberAgent Ventures, and Incubate Fund.

Web site: www.yoyo-holdings.com .