Buy online and earn in Crypto.
SocialGood user growth (1.85 million)
TOKYO, March 02, 2022 (GLOBE NEWSWIRE) — App SocialGood, which offers users cryptocurrency rewards for their purchases, has raised $14.2 million in Series A funding from a capital firm -risk.
The SocialGood app (available on iOS and Android) is associated with over 1,800 major online stores, including AliExpress, eBay, Nike, etc. When users shop on partner sites through the app, they earn up to 100% in SocialGood (SG) crypto.
The app’s user base, primarily in the United States, is growing exponentially worldwide, growing more than 5 times in three months to surpass 1.85 million users at the end of January 2022. This exponential growth is due to the network effect at work, as Bitcoin history has shown.
As SocialGood App users increase, the value of SG crypto increases, so the value of the app also increases as it provides SG. This attracts even more users, creating a positive growth cycle. Social Good Foundation Inc. has filed 68 patents in Japan for this innovative Crypto Back business model.
Survey data shows that there are 5 billion mobile users worldwide, and 55% of them want rewards or cashback when shopping online. On the other hand, the 24-hour trading volume in crypto surpassed $100 billion in February 2022. Therefore, the reward business model in crypto may seem obvious, but Social Good Foundation Inc. has proven its character. innovative with its 68 patents related to the Crypto Economic Model back. Moreover, as the crypto market is said to increase tenfold every two years, the global SocialGood App market can be expected to grow to 550 million over the next two years.
In 2018, the company’s Founder and CEO, Soichiro Takaoka, established Social Good Foundation Inc. in Tokyo to meet the demands of this vast and rapidly growing market and to create the cryptocurrency and mobile app with the most benefit. users in the world.
Japanese serial entrepreneur, Takaoka has 23 years of experience in the fintech field. After graduating from the University of Tokyo, he started his career at Mitsui & Co., one of the world’s largest companies based in Japan. He then left to start his own fintech company, which under his leadership became the most successful in its industry in Japan, with over $1 billion in total investment advisory deals. Takaoka is also the author of two publications on finance.
Andrew Tantomo, CTO of Social Good Foundation Inc., was previously a senior global application development engineer at Rakuten, after graduating from the Singapore Institute of Management. Tantomo, who is fluent in English, Chinese and Japanese, is a highly skilled and multilingual full stack developer.
“Most people in the world cannot afford assets; they keep losing money from their daily expenses. I wanted to create a world where anyone and everyone could automatically accumulate assets. Our goal is to democratize asset ownership,” shares Soichiro Takaoka, Founder and CEO of Social Good Foundation Inc. “We believe the SocialGood ecosystem will make the world a better place, and we aim to expand it globally. .
The stated mission of the SocialGood project is to “build the world’s largest global platform and bring financial freedom to all people around the world.” They also state that their “vision is to become the best cryptocurrency and global mobile app with the most users.”
Highly qualified and sincere people came from global companies to join the SocialGood team with a common passion to achieve this vision and mission. These include a former Amazon Japan executive, a former Goldman Sachs ex, a former marketing director at Mercari, a former media planner at P&G, an engineer who worked at Rakuten , a former data analyst at IBM, etc.
Social Good Foundation Inc. supports the growth and personal development of each team member in an equitable work environment where there is no discrimination based on race, ethnicity, nationality, gender or age, which leads to a very diverse and international team.
As the SocialGood app aims to become the biggest platform in the world, the app is already available in English, Chinese and Hindi. The team plans to continue adding more localized versions, partnering with more top companies around the world, and making the app even more useful for all users.
In anticipation of this growth, Miyako Capital has invested $14.2 million in Social Good Foundation Inc. This is the largest equity investment ever raised by a crypto issuer headquartered in Japan*, and the first-ever funding for Social Good Foundation Inc.
Miyako Capital is a venture capital firm officially recognized by Kyoto University, a leading Japanese national university. In addition to their offices in Japan, Miyako Capital also has an office located in Silicon Valley. They invest and support promising Japanese and international startups. With this investment, Social Good Foundation Inc. plans to further promote its global expansion.
“We are pleased to announce that we have invested in Social Good Foundation Inc., which aims to create an innovative and socially conscious global platform using the token ecosystem,” said Hiro Okahashi, Partner and Founder of Miyako Capital. , in a press release. “The SocialGood app has already gained traction and significant transactions internationally. We expect the SocialGood app to continue to show rapid and significant growth and to be even more widely used around the world. We We will continue to do our utmost to support them in industry-university collaboration for technology and human resources as well as overseas expansion.
About Social Good Foundation Inc.
Social Good Foundation Inc. is an innovative fintech company with 68 Japanese patents related to cryptocurrency and blockchains. They created the SocialGood app, which offers Crypto Back rewards to online shoppers. At the end of January 2022, there were over 1.85 million users in over 200 countries and territories around the world.
In 2021, Social Good Foundation Inc. received approval from the Governor of Tokyo for its business model and in 2022 it was supported by the Japanese government organization JETRO.
Social Good Foundation Inc. aims to make the world a better place by connecting the world to the token ecosystem and creating a win-win situation for all consumers, businesses and society as a whole. Social Good Foundation Inc. provides a global platform that empowers people to make the world a better place and gain assets simply by making purchases.
Headquarter: 18F West Tower Otemachi First Square, 1-5-1 Otemachi, Chiyoda-ku, Tokyo, Japan
Founder and CEO: Soichiro Takaoka
Capital city: 1.42 billion yen (including capital reserve)*
Presentation of the company: Development and operation of a cryptocurrency reward platform with the patented Crypto Back model
SocialGood app website: https://socialgood.inc/
Official Twitter: https://twitter.com/socialgood_inc
*Based on previous equity funding research for companies headquartered in Japan (including those with offshore subsidiaries as crypto issuers). The research was conducted by Social Good Foundation Inc., on the startup information platform INITIAL.
* In this article, the total is calculated as US$14.2 million at the rate of 100 JPY = 1 USD.
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