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TinyOwl ties with Citrus to offer in app wallet; transfer funds into bank

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Online food delivery service TinyOwl has tied up with Citrus to offer a wallet service in the former’s app to make payments and get instant refunds. Harshvardhan Mandad, co-founder and CEO of TinyOwl, said that customers faced ‘major dissatisfaction’ over refund challenges across industries, prompting them to make this move, adding that 30% of its orders were paid for by MyWallet in 4 weeks of launch.

The feature is only available for Android at the moment, with plans to add it to iOS soon. MyWallet money can also be transferred back into the user’s bank account. Users will be able to pay via MyWallet as well as existing modes of payment such as card, cash, net banking and other wallets like Paytm, PayU Money and Mobikwik.

Last month, the company extended its TinyOwl HomeMade service to Bangalore. Prior to the launch, TinyOwl did a pilot project in the city with 3 cuisines and 1 dessert option, and claimed to work with 15 chefs in Bangalore and 150 in Mumbai. It also added that it was doing around 500 orders every day, with the orders averaging at Rs 250, charging chefs a commission of 15-30% of the dish value.

In the same month, it let go of a number of employees at the company primarily from its Mumbai and Pune offices. At that time, the company told MediaNama that the layoffs were strategic level decisions to ‘increase efficiency productivity and re-direct our diverse talent to focused departments’.

As of now, the platform claims to take around 3,000-5,000 orders everyday and cover 4,500 restaurants. The company launched its services in Chennai in July, making it available in 6 cities, with plans to expand to a total of 50 cities by the end of this year.

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In June, it launched a Dishes feature with about 1,000 restaurants across the country. Mandad told MediaNama that at launch, the feature was free for restaurants but it could change its business model to charge them in the future. He also said then that the company was working on developing its own prepaid wallet where customers could load money.

In February, TinyOwl raised Rs 100 crore (~ $15 million) in a series B round of funding from Matrix Partners, Nexus Venture Partners and Sequoia Capital. Active only in Mumbai at that time, the company had said it would use the funds to expand to other cities. The platform had also raised $3 million in a series A round of funding from Nexus Venture Partners and Sequoia Capital last year.

Our online food ordering coverage here.

Also read: Surobhi Das, Zomato: We’re the first ones to know when a restaurant shuts or opens

Image Credit: Wikipedia user HLundgaard

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Written By

I'm a MediaNama alumna from 2015-16 (remember TinyOwl?) now back to cover e-services like food and grocery delivery, app based transport and policies, platforms and media in India.

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.

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