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Crownit secures funding from Kunal Shah & others


Crownit, a local business and discovery marketplace has raised an undisclosed amount in funding from FreeCharge founders Kunal Shah and Sandeep Tandon, Freshdesk founder Girish Mathrubootham and ex-Snapdeal CPO Anand Chandrasekaran in their personal capacity. The company will use the funding for scaling its business.

This is Crownit’s second round of funding. It had previously raised $5.5 million in series A round of funding from Accel Partners and Helion Venture Partners in May last year. Subsequently in August, the company said it would hire 300 people and expand to 15 new cities.

Crownit lets users discover outlets which offer cashback schemes while shopping on its platform. It currently lists gym packages, hotels, ‘special experiences’ adventure packages and others which users can sign up for. Users can click on the picture of the bill to redeem their cashbacks. It lets merchants run marketing programs, out of which it takes a marketing fee for the sales the merchants generate. A part of this fee goes to the consumer in their cashbacks.

Cashbacks can be redeemed at online stores like Flipkart, Jabong, Amazon etc, used to purchase movie tickets from BookMyShow and PVR Cinemas, buy flowers at Ferns N Petals, pay mobile bills or to get meal/apparel vouchers. As of now Crownit is present in over 30 cities including Delhi, Mumbai, Pune, Bangalore, Gurgaon, Goa, Srinagar, Shirdi, Shimla and Udaipur. Crownit was founded by Sameer Grover in October 2013.

Other developments:

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– In February, discovery platform Magicpin raised $3 million in a Series A round of funding from Lightspeed India.

– In August last year, ShopClues launched a new hyperlocal feature called Neighbourhood Market on its mobile app which would allow local merchants to connect with customers.

– In July the same year, hyperlocal deals marketplace Little raised $50 million from Paytm and existing investors SAIF Partners and Tiger Global Management for establishing an online to offline app-only marketplace.

– In March 2015 Zopper, previously known as Reviews42, said it planned to expand to 30 more cities.

– In January last year, online directory service JustDial began selling electronics and white goods and started operating as a marketplace.

– Note that PriceBaba also aggregates offline retailers, but doesn’t allow purchase online.

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