Hong Kong-based venture capital firm Vectr Ventures has entered India by investing an undisclosed amount in a seed round in LafaLafa, a mobile-first coupons and cashback aggregator, as per a statement.
Vectr Ventures typically invests in early stage technology companies globally across sectors from seed to series A, and also partner startups on APAC strategy and execution. It has invested in more than 30 companies worldwide so far.
Gurgaon and Hong Kong-based LafaLafa, which is owned by Yellow Brick Road Digital Marketing Ltd, will use to funds to strengthen its technology back-end and expand within Asia.
“We feel proud to be Vectr Ventures first India investment. They have an incredibly interesting portfolio of startups with a strong focus on diversity and women entrepreneurs and with very strong ties in China and Hong Kong. We were sure we wanted them on board in our journey especially as we expand in the rest of Asia,” said Yosha Gupta, founder of LafaLafa.
The eight-month-old startup, was also selected by Silicon Valley-based seed fund and startup accelerator 500 Startups in September for its 15th batch of its four-month accelerator programme in Mountain View, California.
LafaLafa claims to have touched over 550,000 downloads since the launch of its services in April. It offers coupons for over 500 plus websites such as Flipkart, Paytm, Jabong, Snapdeal, Amazon and others. The users of LafaLafa get cashback when they shop from partner stores. The platform is closing about 1,000 transactions on an average monthly.
They startup recently launched its latest app with the ‘Personal Deal Assistant’ feature where LafaLafa members can find the best coupons and get cashback on whatever they want to buy simply by chatting with LafaLafa.