Chennai: Spini, an online marketplace app for sales professionals, said it raised its first round of funding of $ I million from venture capital firm Walden International.

Singapore-based Spini also launched in Chennai and said it would use the new funds to expand in India. Apart from Singapore, the company operates in Bangalore currently.

Spini, which was co-founded in 2014 by Eddie Chau, Shankar G. and Chong-Kian Soh, is a referral platform that helps sales professionals, especially those belonging in real estate, loan and renovation, get leads through people who have access to relevant information. The platform enables informants to make money and increases the chances of a salesperson getting a profitable lead.

“Reaching out to the right customer at the right time to close a deal has always been a huge challenge for every business," chief executive officer Shankar said. “Cold calling is long dead and ineffective; therefore every salesperson is looking out for new avenues to find out their potential customers. Through Spini we have a solution which helps salespersons and also empowers ordinary people to make money."

Spini said its mobile app features include quality checks processes, private chat facility and reverse auction based bidding.

“Knowledge is passé as anyone can Google anything. Real time information is definitely the king now. At Spini, we are spinning a brand new career path that is empowering stay-at-home moms, retirees, students and even professionals to monetize information," said Eddie Chau.

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