niffler

Mumbai-based startup Niffler has raised $1 million in a round of seed investment from SAIF Partners. The mobile-first venture, which helps users discover deals and discounts from brick and mortar stores, will use the funding for expansion and diversification.

Niffler currently offers an Android app called Coupons & Deals – Niffler, which claims to offer discount coupons and deals for various brands like Shoppers Stop, Forever 21, Nike, Levis and Zara among others. It also offers various deals from restaurants and cafes, as well as displays various places near the user which have Happy Hours. It claims to have over 100 brands providing exclusive offers on its platform including McDonalds, Four Fountains Spa and Birdy’s among others.

On installing the app, it prompts users to login using Facebook, and select categories like apparel, bags, cafe, drinks, dessert, electronics etc, they are interested in. The app then displays exclusive offers, nearby offers and credit cards offers, including offers from Citi, HDFC and Kotak bank credit cards, in categories selected by the user. Users can also browse for offers in a single category.

The app also claims to track a user’s locations to display deals and sales on the app, when users enter a mall or are just about to pay the bill. We couldn’t verify this, but searching the app based on categories or keywords did return location based results, with results organized based on their distance from the user.

Founded by Edul Patel, Viraj Shah and Prince Arora, Niffler currently claims to have over 3000 active offers listed from over 15000 stores. As of now, Niffler is present in Mumbai, Pune, NCR, Bangalore and Hyderabad and claims to partner 300 outlets in Mumbai for Niffler-exclusive discounts.

Competition:

– MySmartPrice had introduced an offline price comparison service for mobile phones in Hyderabad and Secunderabad with plans to expand to other cities gradually. Tying with 300 physical stores like Sangeetha Mobiles and The Mobile Store among others, MySmartPrice will list prices of products from shops closest to a user’s location.

– PriceBaba extended its service to four new cities Chennai, Hyderabad, Baroda and Surat, adding to a total of 11 cities across India. The company, which claims to receive over 3.5 million users every month, also has a physical presence in Mumbai, Bangalore and Delhi.

– JustDial’s plans of launching a price discovery engine have been successful since the app, offers quotes and a “buy now” button to buy products or services online and offline (as of today). It now appears like a directory cum marketplace.

– Quikr had also introduced an instant messaging service Quikr Nxt on its platform that allowed buyers and sellers to interact before the actual transaction. This essentially will allow also buyers to compare prices across stores.

Also Read: SAIF Partners raises $350 million for new India-focused fund

Post updated to include more information.