The mobile-focussed coupon app offers deals from shops like Flipkart, Paytm and Snapdeal
LafaLafa, an e-coupon aggregator based in India has raised an undisclosed round of seed funding from Hong Kong-based Vectr Ventures. Consumers can get cash back on coupon-based online purchases made through the website and app.
LafaLafa, founded by Yosha Gupta, has also been selected to join accelerator 500 Startups as part of batch 15 in Mountain View, California.
LafaLafa reports over 550,000 downloads since launching its mobile app in April. The startup provides coupons from over 500 websites such as Flipkart, Paytm, Jabong, Snapdeal and Amazon, closing a reported 1,000 monthly transactions.
Vectr Ventures is an early-stage investor in tech startups that has investments in 38 companies. LafaLafa marks Vectr’s first investment in India.
“This is our first investment in India. LafaLafa has proven their metrics and is getting great traction,” said Arthur Law, General Partner at Vectr. “We are keeping our tabs on India. It goes without saying that it’s a huge market. The mobile engagement out there is so large. We have been mutually engaging with a lot of funds from India.”
Other investments in Vectr’s portfolio include Hong Kong-based Coachbase, Singapore-based DocDoc and Taiwan-based EMQ.
“The Indian market is the ‘other’ 1-billion population market that is showing a crazy boom in its mobile market, [in terms of] usage and spending. There’s significant growth in that sector also,” added Alan Chan, Managing Partner of Vectr Ventures.
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