Mumbai-based m.Paani Solutions has raised an undisclosed amount in pre-series A round of funding led by Blume Ventures.
The round also saw participation from angel investors including Adil Allana of The Allana Group, Aprameya Radhakrishna, co-founder of TaxiForSure, Gautam Ivatury, co-founder of Meradoctor, and Signal Point Partners.
Founded in 2014 by Akanksha Hazari, m.Paani is a marketing and data analytics startup that enables local retailers to attract customers with a mobile-based loyalty programme.
How Does It Work?
m.Paani develops impact-focused loyalty programmes that leverage mobile technology as a platform to provide key products and services to the underserved by connecting their spends to important loyalty points.
It has tied up with hundreds of retail partners in Mumbai to award m.Paani loyalty points to users, based on their spending at m.Paani’s retail partners. These points can be redeemed for rewards in areas such as education, healthcare, safe water and energy.
m.Paani’s retail partners get a fully integrated loyalty and marketing platform, which includes a business website and personalized mobile app, and are able to market their business and products, and push offers via multiple digital channels, including app, web and SMS.
Akanksha Hazari, founder and CEO of m.Paani, said, “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.”
m.Paani claims that today tens of thousands of m.Paani members are shopping at m.Paani’s retail partners.
The startup plans to utilise the funds to expand to other cities, for product development and hire talent across various departments like technology, product and sales.
Welcome to Flash Feed, your essential source for breaking news and innovation from around the web – bite-sized and updated all day.
