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Vantage Circle secures Rs 1.2 Cr funding; on monetization & shift from deals

Online privilege platform Vantage Circle, that is targeted at corporate employees, has raised 1.2 crore from several angel investors. The company will use the funds raised to reach out to more corporates and brands, apart from developing a mobile app for its service. The company claims to have three lakh users and about 35-40% of them are active users. The company, that was formerly known as TheDealsPoint, ties-up with HR departments of corporates and brands to acts as an intermediary between the two. These brands then offer their products to corporate employees at rates lower than available online, according to the Vantage Circle CEO Partha Neog. What they do: "Brands can use the platform to select the audience they want to offer the discounts or vouchers. They can either offer to all the companies on the platform or to specific companies. They can offer different discounts to different companies, or even vary the discount depending on the number of employees they have. This works for brands as they are able to reach the right audience without affecting the pricing they have negotiated with their distributors," Neog says. "Electronics is the most major segment on the platform. Apple for example had used our platform and was offering 10% on top of the discounts available for various credit cards," he adds. Neog also adds that companies are asked to offer at least 5% discount on the platform, as the deals need to be exclusive to the site. Monetization: There are no minimum…

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