m.Paani raises pre-Series A funding from Blume Ventures and others
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Mumbai: MPaani Solutions Pvt. Ltd, a Mumbai-based loyalty and marketing services company for mass market consumers, said on Thursday that it has raised a pre-series A round of funding. The round was led by Blume Ventures with participation of angel investors, including Adil Allana of The Allana Group, Aprameya Radhakrishna, co-founder of TaxiForSure, and others.
The company that was founded in 2014 by Akanksha Hazari is looking to use the money to grow to other cities, product development and hiring across various departments like technology, product and sales.
“Using a mobile-based platform m.Paani gives consumers direct access to local shops, brands, products, and offers with a touch of a button and the opportunity to maximise value from their spend. The future of Indian retail lies in empowering local businesses with the tools and technology that enable them to reach and serve the new generation of Indian consumers who are online, and seek value and service,” said Hazari in a statement.
The company helps in creating social benefits for under-served communities by designing and implementing mobile-based loyalty programmes. The users are awarded loyalty points which are connected to their spending and are redeemed for rewards in areas such as education, healthcare, safe water and energy.
Customers can redeem the m.Paani points they earn when shopping at m.Paani retail partners for discounts, talk-time, data packs, and even other things like water filters.
m.Paani retail partners get a fully integrated loyalty and marketing platform, which includes a business website, personalized mobile app through which they are able to market their business and products, and push offers using multiple digital channels.