New Delhi, Nov 19 () Customer engagement and rewards platform EasyRewardz on Tuesday said it has raised an undisclosed sum in series B funding from Walmart-owned Flipkart.
 The fund infusion will help EasyRewardz to drive new product development and accelerate global expansion, a statement said.
 EasyRewardz has more than doubled its customers and revenues since its series A funding round in November 2017, which was led by Trans-Continental Venture Fund (TCVF), it added.
 Other investors in the company include Venture Catalysts along with angel investors like Jitendra Gupta, Amrish Rau, Satyen Kothari, Ashneer Grover, Subrat Pani and others.
 "We see CRM Software adoption fastest amongst SMBs (small and medium business) in retail as customer centricity continues to hold centre ground in retailing," EasyRewardz co-founder and CEO Soumya Chatterjee said.
 CRM Software has a market size of USD 48 billion, and is seeing a 16 per cent year-on-year increase globally, with Asia Pacific growing faster at over 20 per cent,
 "We have firmly established our position in India, and have a toe-hold in MENA. We will now accelerate our global expansion to meet the growing demand of Customer Experience Management platforms," EasyRewardz co-founder and sales director Tejas Kadakia said.
 Founded in 2011 by Soumya Chatterjee, Tejas Kadakia, Angad Singh and Sapan Kadakia, EasyRewardz is a customer engagement SaaS solution company, and operates in India, South East Asia and Middle East, among others. The company currently has an annualised revenue of Rs 25 crore.
 "Flipkart continues to make investments in the Indian ecosystem in order to deliver value to our customers. Our investment in EasyRewardz is part of our ongoing initiatives to give superior customer experience," Flipkart said in response to queries on the investment. SR RVK

Flipkart invests in EasyRewardz

<ul><li>Shubh Mangal Zyaada Saavdhan is a bollywood gay rom-com where Kartik and Aman fight the stereotypical mindset about homophobia in a small town. </li><li>The film had a strong opening with a total collection of ₹19.75 crore in two day. </li><li>According to BoxofficeIndia, the film is likely to make a business of at least ₹30 crore. </li></ul><keyword id="965758" type="PERSON" weightage="20" keywordseo="Ayushman-Khurrana">Ayushman Khurrana</keyword> has discovered the secret to winning audiences — unconvention roles. After he started his career playing the character of a sperm donor, he is yet again on screen playing a gay partner amidst Indian family drama. The film had a strong opening with total collections of ₹19.75 crore in the first two days. Moreover the Mahashivratri holiday on Friday gave a 45% boost. According to BoxofficeIndia, the film is likely to do a business of at least ₹30 crore. “If the film can hold well on Monday it should do well. The last two <keyword id="593991" type="PERSON" weightage="20" keywordseo="Ayushmann-Khurana">Ayushmann Khurana</keyword> films have done ₹140 and ₹110 crore net respectively so the trade and industry starts to expect numbers in that range but the numbers for these depend on the content and not the actor as opening is never huge,” reported Boxoffice India. <div type="twitter" handle="taran_adarsh" handlename="taran adarsh" image="http://pbs.twimg.com/profile_images/1440352704/profile_pic_taran_normal.jpg" favoritecount="12692" retweetcount="747" status="#OneWordReview... #ShubhMangalZyadaSaavdhan: BOLD. Rating: ⭐️⭐️⭐️½ Brave. Gutsy. Fearless. Dares to address Homopho… https://t.co/Qd9n8sXxBc" createdat="1582295700000" id="1230863495912153088"></div>

 <div type="twitter" handle="taran_adarsh" handlename="taran adarsh" image="http://pbs.twimg.com/profile_images/1440352704/profile_pic_taran_normal.jpg" favoritecount="7096" retweetcount="348" status="#ShubhMangalZyadaSaavdhan jumps on Day 2... Metros witness growth, while mass pockets remain strictly average... Th… https://t.co/GxygzXR0id" createdat="1582435554000" id="1231450087617900544"></div>

 Shubh Mangal Zyaada Saavdhan is a rare Bollywood gay rom-com where Kartik and Aman fight the stereotypical mindset and small-town homophobia. Aman and Kartika, who live in Delhi, want to get married but trouble follows them when Aman’s father catches them kissing — and there start panic attacks to fake suicide attempts. The film is set before India revoked Section 377 that criminalised gay sex. It draws references from the popular Shahrukh Khan movie Dilwale Dulhania Lejayenge for many scenes. <keyword id="7612227" type="UNKNOWN" weightage="20" keywordseo="Shubh-Mangal-Zyada-Saavdhan">Shubh Mangal Zyada Saavdhan</keyword> opened on February 21 in India. Apart from Ayushmann it stars Jitendra Kumar and the ‘Badhai Ho’ pair of Neena Gupta and Gajraj Rao. The film is written and directed by debutant Hitesh Kewalya. Trump’s says ‘great’ Attention Apart from Indian audiences, the Khurrana starrer also managed to gather US president <keyword id="6354484" type="PERSON" weightage="20" keywordseo="Donald-Trump">Donald Trump</keyword>’s attention. Trump, who is on a two-day visit to India lauded the rom-com on the day of its release. A human rights campaigner and LGBTQ+ activist Peter Tatchells took to social media to post about the movie. "A new #Bollywood rom-com featuring a gay romance is hoping to win over older people, following the decriminalisation of homosexuality. Hurrah!" tweeted @PeterTatchell. To this, Donald Trump tweeted : Great <a href="https://twitter.com/realDonaldTrump/status/1230881724445249536">https://twitter.com/realDonaldTrump/status/1230881724445249536</a> The movie has had a much better opening than <keyword id="710" type="PERSON" weightage="20" keywordseo="Sonam-Kapoor">Sonam Kapoor</keyword>’s Ek Ladki Ko Dekha Toh Aisa Laga which was also a gay drama story, that has failed to make a mark on the Box Office. (With IANS) See also: <a href="https://www.businessinsider.in/india/news/donald-trump-food-menu-from-chef-suresh-khanna-in-ahmedabad/articleshow/74276769.cms">Here’s the Trump menu from Chef Suresh Khanna: The beef-lover US Prez will have to settle for an all-vegetarian meal in India</a>

Ayushman Khurrana wins hearts with Shubh Mangal Zyada Saavdhan — eyes ₹30 crore in 3 days

<ul><li><keyword id="7413619" type="UNKNOWN" weightage="20" keywordseo="mall91">Mall91</keyword>, Dealshare, CityMall, Bulbul, WMall along with the Facebook-backed <keyword id="3480589" type="PERSON" weightage="20" keywordseo="Meesho">Meesho</keyword>, have raised funds in the past few months. </li><li>Each of these startup is targeting the next 200 million consumers from smaller cities.</li><li>It all started with social media giant <keyword id="6354576" type="UNKNOWN" weightage="20" keywordseo="facebook">Facebook</keyword> investing an undisclosed amount in Meesho in June.</li></ul>The Indian <keyword id="623994" type="PERSON" weightage="20" keywordseo="social-commerce">social commerce</keyword> sector seems to be the latest ‘hot sector’ for investors. Many Indian startups – Mall91, Dealshare, CityMall, Bulbul, WMall along with the Facebook-backed Meesho, have raised funds in the last few months. Each of these startup is targeting the next 400 million consumers from smaller cities by leveraging on the expanding reach of social media platforms like Facebook and WhatsApp. With growing data penetration in India, social commerce is only set to grow. "Social commerce is basically a direct correlation to data penetration in the country. Today, everybody in Tier 2 and Tier 3 cities also has an availability of the internet. A long-time back shopping online was restricted to a certain population, today there is an exponential possibility due to the availability of the internet, everybody has access to it from every sector of the society,” said Roma Priya, Founder of Burgeon Law, a boutique law firm. Priya added that given that social commerce has a more one-on-one, viral nature is a great way for a trust deficient demographic to buy again. Funding galore Today, Mall91 has raised $7.5 million through its Series A funding round led by Go-Ventures and participation by Beenext, Kalaari Capital, AngelList India. With the latest funds, Mall91 aims to drive growth and plans to expand to other top 8 local languages of India. The company is also planning to grow its supply chain capabilities domestically and internationally. It all started with social media giant Facebook investing an undisclosed amount in Meesho in June. Meesho is a marketplace for resellers, and connects them with customers via social media channels like WhatsApp and Facebook. “With this investment in Meesho, we want to fuel a business model that can result in rapid job creation and the rise of a female entrepreneurial class in India," Facebook India head Ajit Mohan had then said in an <a href="https://www.livemint.com/companies/start-ups/facebook-invests-in-bengaluru-based-meesho-1560427873327.html">interview.</a> This was followed by Dealshare which raised $11 million from Matrix Partners, Falcon Edge Capital and others. Meanwhile, barely one year old social e-commerce platform CityMall which operates in local languages-- raised an undisclosed amount from Jitendra Gupta of Citrus Pay, Alvin Tse of Xiaomi, Manish Vij and Harish Bahl from Smile Group, Rishab Malik ex-co-founder of Droom, Rajesh Sawhney of GSF and M&amp;S Partners. In May 2019. Bulbul, which is a live social commerce app, raised $5 million in a round that was led by Sequoia. It is also a part of Sequoia’s accelerator programme. See also: <a href="https://www.businessinsider.in/facebook-invests-in-indian-startup-meesho/articleshow/69782285.cms">Facebook invests in Meesho showing that it will enter online e-commerce sooner than later</a>

Social commerce is the latest investor favourite as they target India’s next 400 million users

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<ul><li>The company, which is a part of the startup world’s new favourite term – Dukaantech, helps Indian businesses go online and was launched at the peak of the pandemic. </li><li>Dukaan co-founder and CEO Suumit Shah, in an interview with Business Insider, talks about the growth he had never expected out of an app they had launched on a whim. </li><li>Dukaan is live on the Play Store again after being banned for over a month after a legal battle with <keyword id="7598194" type="UNKNOWN" weightage="20" keywordseo="khatabook">Khatabook</keyword>.</li></ul>For the barely eight-month-old Dukaan, it’s been a crazy ride. In just eight months, the startup has garnered millions of users, millions in funding, and landed in a soup with a legal battle with Khatabook. The company, which is a part of the startup world’s new favourite term – Dukaantech, helps Indian businesses go online and was launched at the peak of the pandemic. Dukaan opens Dukaan co-founder and CEO Suumit Shah, in a candid chat with Business Insider, talks about the growth he had never expected out of an app they had launched on a whim. During peak lockdown, Shah got a text from a Jockey outlet with a PDF file with all their items listed, and the text read that you can place your order on WhatsApp and they’ll deliver. This brought up two questions on Shah’s mind – why aren’t they using platforms like Shopify, what happens when they get over 50 orders or how will they keep track of them all. At this point, Shah was building a company called Rank, which had a tool that lets you know where your business stands on Google Search and other metrics. “We took a look at the market and decided to build an app that will make it easier for businesses to build their inventory. We built the app in two-three days and immediately started getting a lot of calls,” Shah told Business Insider. As the calls kept coming in and feature requests kept piling up, they realised that small businesses have their ways of creating catalogues and have different metrics. “People were doing anything to get back into the business,” Shah said and added that they found takers in people who were earlier opposed to online. Within a week, they had 25,000 orders, and by November, they had over 2.7 million stores created through their platform, which have processed a cumulative ₹100 crore in Gross Merchandising Volume (GMV). The legal battle with Khatabook For Dukaan, the fast-tracked growth hasn’t come without legal woes. The Khatabook-Dukaan legal battle became the talk of the town, as the former accused Dukaan of copyright infringement over the source code of the application. Khatabook was also running its own app called Dukaan by Khatabook. After an intense battle in court, Dukaan was ordered to take down its app from all platforms, including <keyword id="6369511" type="UNKNOWN" weightage="20" keywordseo="google-play-store">Google Play Store</keyword>. In an out of court settlement, Khatabook and Dukaan resolved the issue with <a href="https://entrackr.com/2020/11/khatabook-and-dukaan-resolve-issues-out-of-court/">Khatabook getting nominal equity in Growthpond </a>(Dukaan’s parent company). And after all that, Dukaan is now live on the Play Store again. Shah looks back at the entire legal battle and says that it has indeed been a roller coaster ride. “The issue isn’t there anymore, they allowed us to use the name Dukaan, and they’ll keep running their app; we will run ours. India is a huge market, and ultimately, the best product will win. These products need the hour, so the user will rely on the product, which helps you and gives you the output. For example, even when Paytm existed and had so many businesses, Khatabook came and created its own segment. Exactly that way, we have our own space and impact we are creating,” said Shah. Cashing in big cheques in a short time Dukaan has been one of those rare startups that has received significant funding within a month of its launch. While there are <a href="https://entrackr.com/2020/10/exclusive-dukaan-app-removed-from-play-store-after-court-relief-to-khatabook/">theories about the financing</a>, Shah says the money came their way because of the popularity of the product. “In one week, we were trending on top on the Google Play Store, investors were looking at that, and we got a lot of inbound calls. On the first call, we had a term sheet of $17 million. By the end, we had four term sheets on the table, and we had to choose who to go with,” he said. Dukaan has raised $6 million in seed funding co-led by Matrix Partners India and Lightspeed India Partners. The round also saw participation from angel investors like Haresh Chawla (Founding CEO Network18, Viacom18), Ryan Hoover (Founder, Weekend Fund and Product Hunt), Jitendra Gupta (Founder, Jupiter), Shashank Kumar (Founder, Razorpay), Sandeep Tandon (Founder, Freecharge), Prabhkiran Singh (Founder, Bewakoof.com), and Kunal Shah (Founder, Cred). But while Shah believes they aren’t growing too fast, he admits he never expected this coming. “In the beginning, a friend of mine knew someone who was a distributor for a big FMCG company. He gave me the deal that he will onboard 15000 stores and give me a 5% stake. I thought about the order; I actually considered it until I got 25,000 orders in a day. So I wasn’t expecting these numbers – the reality has been much better,” said Shah. “The kind of users were also not expected – people selling bakra on eid, panditji selling satyanarayana pooja ka saaman, these are things I hadn’t expected,” he added. But now, there’s a lot more to do Dukaan is back on the Play Store after being down for over a month, which means they have lost out on many incoming users. However, Shah claims that even while they weren’t on the Play Store, they have managed to remain a market leader as they helped the existing users. “By the end of March 2021, having 15 million merchants is what we are trying to achieve,” said Shah. And they are also coming up with new features to support merchants. “Right now, the basic app digitizes the business. The questions merchants have is how do I get more business. We will build small marketing tools that will help our users market their business — for example, WhatsApp stories. We have built a small tool where you can design WhatsApp stories and display your offers. The next funnel is how do we make sure the sellers get more reach. Online payment functionalities is another thing we are working on,” he shared. While Shah claims they made $1200 on day one, the focus is now not on revenue but on building the business. SEE ALSO: <a href="https://www.businessinsider.in/business/startups/news/white-hat-jr-gets-a-partial-gag-order-against-pradeep-poonia-who-now-has-to-defend-a-hacking-charge-as-well/articleshow/79365073.cms">White Hat Jr gets a partial gag order against Pradeep Poonia who now has to defend a ‘hacking’ charge as well</a> <a href="https://www.businessinsider.in/science/health/news/oxford-and-astrazeneca-covid-19-vaccine-is-70-effective-and-india-may-authorise-emergency-use-after-uk-nod/articleshow/79365393.cms">Oxford and AstraZeneca COVID-19 vaccine is 70% effective — India may authorise emergency use after UK nod</a>

INTERVIEW: Dukaan CEO gets candid about the clash with Khatabook now that the app is back on Google Play Store – aims for 15 million shops by March

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<keyword id="6354814" type="UNKNOWN" weightage="20" keywordseo="prime-minister-Narendra-Modi">Prime Minister Narendra Modi</keyword>’s aggressive push for cashless society is showing some results post <keyword id="3315394" type="UNKNOWN" weightage="20" keywordseo="demonetisation">demonetisation</keyword> as digital transactions have gone up by 25% since demonetisation announcement. 
 Not only in organised retail, <keyword id="6358577" type="UNKNOWN" weightage="20" keywordseo="Digital-Payments">digital payments</keyword> saw an increase from roadside merchants as well, who are shifting to digital payments. 
 
"From month on month, now we are checking weekly growth data which is showing a jump of around 5 per cent per week, which is a very healthy number. The average value of each transaction which had slipped to Rs 2,000 from Rs 2,700 before November 8 has now stabilised at that level," Lokvir Kapoor, chief executive officer at Pine Labs, which facilitates installation of point of sale (PoS) terminals at merchant outlets, told ET. 
 
Since note ban, Pine Labs has been processing around 1.1-1.2 million transactions on an average per day. Before demonetisation, the figure was nearly 5 lakh on an average weekday. 
 
"We did 2 million transactions last Sunday; this Sunday being Christmas, we saw 2.2 million transactions on our network which is a healthy 10 per cent jump," Kapoor told ET. 
 
"We are mostly prevalent in smaller cities like Jaipur and Chandigarh and are operating 10,500 PoS terminals presently. Now, our call centre is flooded with queries from merchants who wish to accept digital payments; we received an order of 3,000 terminals over the past one month," Jitendra Gupta, managing director, PayU India, told ET. 
 
India has around 15 lakh PoS terminals, almost 74 crore (740 million) debit cards and 2.7 crore (27 million) credit cards. This data does not refer to wallets which are a parallel network. 
 
These mobile wallets too have started reaping the benefits of demonetisation. 
 
Card processing companies and banks have upgraded their bandwidth to process the rising number of payments. 
 
"I believe it will take around 18-24 months of consistent push from the authorities in order to bring about a behavioural shift in Indians. The habit of making payments through cash has to change so that people even make card transactions for small purchases," Manish Patel, founder of mSwipe, which also works with roadside stalls, told ET.

From average 5 lakh to 1.2 million per day, digital transactions have gone up by 25%, thanks to demonetisation

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After eCommerce firms, now the online wallet and payment companies are trying their best to reserve a space for themselves in the promising Indian market. Almost every other day, we get to hear a lot about these companies’ new initiatives for wooing customers as well as retailers. And now, companies like <keyword id="6357120" type="UNKNOWN" weightage="20" keywordseo="PayTM">Paytm</keyword> and <keyword id="143842" type="UNKNOWN" weightage="20" keywordseo="Mobikwik">Mobikwik</keyword> have gone a step ahead and joined hands with local kirana stores to expand their arms into semi-urban and rural areas. These are the areas that are considered as <a href="http://www.businessinsider.in/E-wallets-will-actually-be-a-burden-for-the-banks-not-a-boon/articleshow/47984502.cms">underserved by banks</a>. 
 
According to a recent Economic Times reports, these companies are offering attractive rewards and are motivating customers to convert their money into wallet money at the local kirana stores. The idea is to get rural clients. Penny Gillespie, research director for electronic and mobile commerce at Gartner, USA says, “Rural clients are important to digital wallet suppliers for the market size and need for convenience. 
 
Enabling these rural clients also increases the appeal of the <a href="http://www.businessinsider.in/You-might-soon-be-able-to-shop-up-to-Rs-25K-via-mobile-wallets-Paytm-asks-RBI-to-raise-cash-limit-for-the-same/articleshow/48110055.cms">digital wallet</a> to merchants and increases the number of payment transactions that are processed by gateways and PSPs, which is how gateways and processors make their revenue." 
 
Amit Lakhotia, Paytm vice-president of payments also shared similar thoughts. He said, “The idea is to primarily promote adoption among users who are reluctant to use digital payment methods or are unable to access them.” 
 
On the record, the <a href="http://www.businessinsider.in/Digital-wallets-becoming-popular-among-consumers-reveals-RTI/articleshow/48233920.cms">online wallet and payment service</a> company, backed by Chinese eCommerce biggie Alibaba has recently partnered with Hyderabad-based <keyword id="2411000" type="UNKNOWN" weightage="20" keywordseo="NumberMall">NumberMall</keyword> to pull at least 15,000 kirana stores in its network as cash points where users can easily top-up their Paytm wallets. 
 NumberMall founder and CEO <keyword id="3032679" type="UNKNOWN" weightage="20" keywordseo="Kiran-Kumar-Gali">Kiran Kumar Gali</keyword> says, “Users who come for topping up their wallets are mostly students who do not have bank accounts, are active smart phone users and rely heavily on rewards and cash-back from the wallet for online purchases.” Gali further informed the media that the tie-up is a month old. 
 
Payment wallet Mobikwik had recently announced a similar tie-up with assisted ecommerce player StoreKing, which installs kiosks in retail and mobile recharge stores in rural areas across southern India. 
 
"We are trying to understand the usage pattern for customers in rural areas and to ease converting cash into wallet money. We are working on a model in Delhi and Mumbai, which will be soon launched in other cities where users can click a button on the Mobikwik app and get their wallets recharged on payment of cash to an agent at their doorstep," said Mrinal Sinha, COO of Mobikwik. 
 
<a href="http://www.businessinsider.in/searchresult.cms?query=Mobikwik+">Mobikwik </a>has 20 million wallet users while, Paytm has 100 million wallet users. 
 
"We are currently running a pilot in Bandra (Mumbai) with 30 kirana stores to accept payment through the Citrus Pay wallet. In case of large retail chains, the adoption of wallet to pay is low due to the cumbersome process," said Jitendra Gupta, founder of Citrus Pay. 
 
Gillespie said digital wallets have the capability to exclude banks if the wallet accepts cash payments for reload. 
 
Image: paytm.com

Now refill your Paytm wallet at the nearest kirana store

eCommerce players like <keyword id="6357120" type="UNKNOWN" weightage="100" keywordseo="PayTM">Paytm</keyword>, Alibaba are trying their level best to make <a href="http://www.businessinsider.in/searchresult.cms?query=Online+shopping+">online shopping</a> much easier for Indians. E-tailers are collaborating with payment companies to work out a model that will parse your <a href="http://www.businessinsider.in/searchresult.cms?query=online+transaction+">online transaction</a> history to provide credit scores and thus, enable you get loans to buy that costly <keyword id="1507355" type="UNKNOWN" weightage="80" keywordseo="iPhone-6">iPhone 6</keyword> or the likes. And no, you won’t need to have a credit card to convert your purchases into EMIs. 
 
The above-mentioned model is in line with what is already being followed in the US, Europe and China, says an Economic Times report. The financial daily further elucidates, this model would target people between age group of 22 and 28 years and new entrants into the banking system who have little by way of traditional credit footprint. 
 
"EMIs will be restricted to high ticket price categories, for example on purchase of white goods, etc. In the instance when a customer does not have a previous credit history, we will evaluate their mobile phone bill payment for credit worthiness. We will only share the rating with banks and the user will be informed of the process," said Amit Lakhotia, vice president — payments at <a href="http://www.businessinsider.in/searchresult.cms?query=Alibaba">Alibaba</a>-backed marketplace and payment solution, <a href="http://www.businessinsider.in/searchresult.cms?query=Paytm">Paytm</a>. 
 
Alibaba had issued virtual credit cards to its customers last year in China, based on their transaction history. 
 
The use of non-traditional data to evaluate credit worthiness opens up a new way for lending agencies which have been working with sellers on online marketplaces based on a similar credit rating mechanism. 
 Tejasvi Mohanram, founder and CEO of <keyword id="2788559" type="UNKNOWN" weightage="80" keywordseo="RupeePower">RupeePower</keyword>, digital finance services marketplace, said: "We are utilising non-traditional data to match the right customer to the lending agency. We will analyse the credit history of an individual when they ask for a loan or EMI. It will be used by banks as a back-test where they will match traditional credit scores with the learning from non-traditional data." 
 
Earlier, <a href="http://www.businessinsider.in/searchresult.cms?query=Snapdeal+">Snapdeal</a> had picked up majority stake in the company in order to extend its customer-focused financial services initiative. 
 US and Europe were early in the adoption these services. However, after the crackdown on <keyword id="6357940" type="CITY" weightage="60" keywordseo="Paypal">PayPal</keyword> Credit's Bill Me Later service in the US for signing up customers without their knowledge, the solution providers in India are treading cautiously with respect to customer data and privacy. 
 
"Our product will give the customer a decision in 15 seconds flat on whether they are eligible for credit or not," said Jitendra Gupta, founder of Citrus Payment Solutions, which works as the payment gateway for multiple ecommerce marketplaces. 
 
He said: "We will assign credit scores to customers on our database, using our analytics engine. This will be mashed against the data provided by the marketplaces working with us, and with the traditional credit data our partner banks provide. We will only tell the bank whether the customer is eligible or ineligible for the loan. Disclosing credit score will be unethical." 
 
(Image: Indiatimes)

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