The investment willaccelerate Fave's exponential growth in connecting offline retail businesseswith millions of mobile consumers across Southeast Asia

JAKARTA, INDONESIA - Media OutReach - 6^thSeptember 2018 - Fave,Southeast Asia's fastest growing mobile O2O (online to offline) platform, todayannounced that they have raised over US$20 million in a Series B round fromstrategic and existing investors including Sequoia India, SIG Asia Investmentand Venturra Capital.

Over the last 2 years, Fave has evolved into SoutheastAsia's largest mobile loyalty and rewards platform, helping retail businessesreach out to millions of customers with special offers, bookings, and cashbacksolutions. Its FavePay product offers a cashless mobile payment experience and hasproven to be very popular with customers due to its convenience and cashbackreward.

Fave has already helped tens of thousands of offline businesses reachmobile consumers, and in 2018 alone the platform will drive over US$100M inrevenue to these businesses. These businesses offer over 40,000 active rewardsthat are available through the Fave app, which has a 4.5* rating and has beenused by 3 million consumers.

In a report by Google, Southeast Asia (SEA) was identified as one of theworld's most mobile-centric regions with many consumers leapfrogging desktopPC's altogether. With an estimated 200 million digital consumers in the region,Fave is in a unique position to help offline businesses in SEA reach out tothese consumers. Leveraging this large market opportunity, Fave has seen anannual growth rate of 300%, recording millions of transactions, and has seenadoption in over 15 cities across Singapore, Malaysia and Indonesia.

Joel Neoh, Founder of Fave said: "Consumer behavior is changing with buyers spending more timeonline than offline, and so Fave aims to help make it easy for all offlinebusinesses to go online through the Fave platform. This helps retail businessesin food & beverage, consumer goods, lifestyle services and other categoriesto transform themselves to meet the needs of tech-savvy consumers in SoutheastAsia.

As a mobile platform, our goal is to serve100,000 offline businesses by 2019 and we are very excited as this funding willhelp us get one step closer to achieve that milestone."

Pieter Kemps, Principal ofSequoia Capital (India) Singapore said: "Everyonetalks about the cashless society, but making the actual shift requires anexceptional user experience, with clear benefits for the users as well as for businesses.  If you help businesses drive revenue andreduce operational burden, you can truly drive adoption and create choice forconsumers. Fave knew this when it launched FavePay. Sequoia India has been impressedwith their execution and exceptional growth, and is happy to support Fave ontheir journey to create a cashless society."

Fave has fast become one of Southeast Asia'sleading internet companies and this new round of funding will ensure thecompany can continue to accelerate its exponential growth for the benefit ofboth offline retail businesses and consumers.

About Fave

Fave, the leading mobile O2O platform in Southeast Asia, offers payments and rewards across multiple categories including food &beverage, beauty & wellness, services, activities, leisure and travel.

Fave has connected millions of customers to offlinebusinesses in key Southeast Asian market centres. Their mission is to help offlineand retail businesses across SEA grow and succeed through it's mobile platform. For consumers, Fave provideseveryday convenience and rewards at their favourite places.

Website. myfave.com

App download (App Store / Google Play Store). myfave.com/app