CashCashPinoy is a privately held online website that sells discounted products, services and travel packages voucher that is located in the Philippines. Formerly located at Lepanto Building Makati, the office is now located in Pasig City, Philippines. The website was officially launched in September 2010 and as of 2015 it has 1.5 million members. The company set up an end-to-end solution for the Philippine market including IT specialists, sales coordinators, graphic designers, photographers, editors, financial & HR, customer support, logistics, marketing, eCRM specialists etc. As of 13 July 2017, the company's official website is inactive and displays a message about a "time out" of business activities.
History
The term "CashCashPinoy" was coined using the words cash and pinoy. The company was founded by Frederic Levy, together with 2 other French and a Filipino entrepreneur. The store was initially a self-funded business together with seed funding from angel investors from UK, US and Germany. On May 13, 2011, its customers pioneered a new type of payment will able to pay their purchase using 7-Connect. the store also partnered with Coins.ph, a bitcoin exchange company, to allow purchases using bitcoin. Frederic Levy left the company in January 2015, succeeded by Sebastian L’Hermitte as the CEO of Moonline Inc. Hermitte as CEO, he introduced the Fast-Track delivery wherein customers can get the item the same day they purchased it. As of 13 July 2017, the company's official website is inactive and displays a message about a "time out" of business activities.
CashCashPinoy.com
The website is a membership-based online retail site that uses a flash sales-style model. The site offers a wide range of discounted products and service voucher. Subscribed customers receive daily email roundups, and can pay for goods in a range of ways, while purchased items can be shipped to directly to customers' home or their preferred address.. The site proposes 10 to 15 new event sales to its members daily. New sales usually last from 6 to 8 days and also features merchandise from a single brand to small groups of brands. While for services and package tour deal they are featured for 8 to 10 days.
Technology
CashCashPinoy released REVO, a new version of its proprietary platform. It handles data from products sourcing and fulfillment to IT, data analysis, content creation, fraud management to customer support. Recently, they launched CashCashLAB, a new customer feedback programs where company executives and selected members continuously meet via monthly basis to exchange ideas about improving its service for its members. As result from the first session of CashCashLAB, the company decided to launch CashCashBack, an exclusive new loyalty program for members which allows them to earn points that are equivalent to cash every time they shop. Another previous output is allowing payment for orders via COD.
Funding
In 2011, the company received a seed money investment of US$300,000 mainly from Seed money; in 2012, the company received additional funding of US$1,400,000 from Angel Investor from international and Filipino successful entrepreneurs. In October 2014, the company has raised US$2,000,000 from Singapore-based Private Equity firm, Hera Capital. To date, CashCashPinoy has secured around US$4 million in total financing since establishing operations in 2010, which made it one of the most funded startup in the country.
CashCashPinoy is a co-founder of the Digital Commerce Association of the Philippines, and Frederic Levy has served as the Vice President of the non-profit organization.
Awards
In 2015, CashCashPinoy received the Golden Globe Annual Award for Business Excellence in the category "Best e-commerce website".
