Mumbai-based Niffler raises $1 million funding from SAIF Partners
It's easier for an internet user to go to online shopping destinations like Flipkart, Snapdeal and Amazon while looking for deals and discounts, but there's no one stop shop to know about the deals in offline stores. While technology enabled discovery platforms have been existing for years now, only recently we can see more action in bringing the best out of brick and mortar stores using these techniques.
One such startup is Mumbai-based Niffler, which is a mobile-first venture helps users discover deals and discounts from brick and mortar stores. SAIF Partners today announced a seed investment of US $ 1 million in this brain child of 3 IITians. The freshly infused capital will be used towards expansion and diversification.
What is Niffler?
Co-founded by the investment bankers Edul Patel, Prince Arora and Viraj Shah, Niffler app is a one-stop destination to find deals from offline merchants across categories including food and drinks, spas and salons, apparel and home décor. It has 3,000+ active offers listed across 15,000+ stores. The team has also partnered with big brands like McDonald’s, Ammi’s Biryani, Birdys, Cafe Moshes and Four Fountains De-Stress Spa to provide exclusive offers for Niffler users. At present, there are 300 outlets in Mumbai that offer Niffler-exclusive discounts and the number is rising exponentially.
The company has over 30,000 users and presence in the top 5 cities of the country i.e. Mumbai, Pune, NCR, Bangalore and Hyderabad. It believes that mobile will hugely influence sales at offline stores and is building technology powered solutions to help merchants connect with customers.
Why SAIF Partners invested in Niffler?
Mukul Singhal, Principal, SAIF Partners said,
We see immense potential in an app like Niffler that optimises the mobile platform to influence sale at offline stores. Their aim is to build the mobile-powered information superhighway, connecting brick and mortar stores with consumers. There has been a significant uptick in appetite for businesses that connect offline businesses to consumers via mobile and we are certain that Niffler will scale tremendously in the days ahead.
Niffler for users and merchants
The app notifies the users of new offers from their favourite brands as soon as they go live. It learns from a user’s habits and serves up curated deals based on items that a user likes. Over 600 brands – including perennial favourites like Zara, Forever 21, and Shoppers Stop – have had their ‘End of Season Sales’ featured on Niffler.
For merchants, Niffler drives footfalls to their stores by enabling them to connect with customers and push relevant information at moments when it matters most.
The app is currently available for Android on Google Play and is going to be launched soon on the iOS platform.
Visit Niffler website