YOYO Holdings operates Candy, a rewards platform that targets prepaid mobile phone users in developing economies. Candy sends SMS "missions" — trivia, market research surveys, or in-store promotions — and users reply with a code to receive free load or minutes on their prepaid mobile. The service is currently available in the Philippines, Indonesia, and Thailand and has about 250,000 registered users. YOYO is based in Singapore and positions itself among startups focused on reaching the "next billion" internet users by collecting market data in developing countries. The company says prepaid phone users make up more than 90% of the mobile market in Southeast Asia, a dynamic it expects to leverage for regional expansion. YOYO intends to use new funding to find new revenue streams and to invest in marketing and business growth.

Total raised

$1M

Funding rounds

1

Latest round

Equity

Latest activity

May 2014