m.Paani raises pre-Series A funding from Blume Ventures and others
The company is looking to use the money to grow to other cities, product development and hiring across various departments
- IndiGo, Air India Express among Top 5 cheapest airlines in the world
- Goldman Sachs’ ReNew Power stake sale to be biggest IPO exit by a PE firm in India
- Govt may tell Tata Tele to settle dues before deal with Tata Communications
- New India Assurance looks to lower health-loss ratio to 95%
- DLF sells office space in Gurugram for Rs150 crore
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.
Editor's Picks »
- Motherson Sumi continues to face margin pressure in foreign markets
- What the Warren Buffett indicator tells us about market valuations today
- Jet Airways lands with a thud in Q4 as fuel costs increase
- IBC amendments: Some dilutions, and a lot more speed
- Patanjali’s gambit is paying off in toothpaste wars