YouBiz and TikTok for Business Launch Partnership to Fuel E-commerce Growth in Singapore with Enhanced Financial and Marketing Solutions
Singapore's e-commerce sector is experiencing significant growth, with gross merchandise value (GMV) increasing from US$8 billion in 2023 to US$9 billion in 2024 according to Google, Temasek and Bain & Company's e-Conomy SEA 2024. The rise of video commerce, now accounting for 20% of e-commerce GMV (up from less than 5% in 2022), further underscores the dynamic nature of online retail.
Recognising the increasing demands of this market, YouBiz and TikTok for Business are joining forces to offer targeted support, helping local businesses maximise their marketing and advertising ROI, and streamline financial operations.
'Singapore's e-commerce landscape presents immense growth potential, yet businesses need more than just access to the market—they need the right strategic tools and comprehensive support to truly unlock their success,' said Benedict Khong, General Manager of YouBiz. 'This partnership with TikTok for Business is designed to bridge that gap. By seamlessly integrating YouBiz's innovative financial solutions—such as multi-currency accounts, unlimited 1% cashback on all expenditures, and cost-effective remittance services—with TikTok's dynamic advertising platform, we are empowering businesses to not only survive but thrive in the fast-evolving digital economy, providing them with a distinct competitive advantage.'
Exclusive Cashback Scheme to Boost Ad Performance
A key element to this partnership is an exclusive cashback scheme designed to provide e-commerce businesses with additional financial resources to optimise their TikTok advertising strategies. Under the joint scheme, new TikTok advertisers can receive up to US$100 in ad credits to facilitate campaign development, testing, and refinement.
On top of that, businesses can enjoy up to 3% upsized cashback on TikTok ad spend with YouBiz, directly improving ROI and freeing up capital for strategic reinvestment and expansion. Businesses can also enjoy unlimited 1% cashback perpetually on all spending, beyond TikTok and digital advertising. Full partnership perks can be found at https://www.you.co/biz/tiktok-youbiz-partnership/.
Panel Discussion to Unlock Growth on TikTok: Content, Ad and Financial Strategies for Success
The partnership was unveiled at a joint event featuring a panel discussion, 'Unlocking Growth on TikTok: Content, Ad and Financial Strategies for Success.' Speakers shared insights on leveraging digital platforms for effective marketing campaigns and how financial solutions can provide a competitive advantage for sustainable growth.
During the panel, Genecia Alluora, co-founder of local skincare brand Alluora, shared her experience in navigating TikTok advertising and the importance of financial tools in mitigating FX fees and earning cashback—savings that were previously unattainable with traditional financial solutions.
With YouBiz's expense management platform, e-commerce can simplify their finance processes by enabling efficient payment processing, expense tracking, and reporting. With 0% FX fees and competitive remittance rates, YouBiz empowers e-commerce, and all businesses, to facilitate seamless international transactions by eliminating unnecessary hefty costs for cross-border operations.
TikTok for Business allows marketers to manage and access advertising, creators, commerce and other marketing solutions in one place for quick collaboration and maximum flexibility.
Through this partnership, YouBiz and TikTok for Business are committed to empowering e-commerce businesses in today's competitive market. By integrating financial and marketing solutions that return savings directly to businesses, they are driving growth, innovation, and long-term success in the digital economy.
The issuer is solely responsible for the content of this announcement.
About YouBiz
YouBiz is the leading multi-currency corporate card and spend management platform for businesses. Built by YouTrip, a first-mover in the Southeast Asian fintech and digital payments space, YouBiz provides SMEs and startups with an intuitive, convenient and affordable spend management platform to power their cross-border payment needs and global expansion plans.
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