India: Helpchat acquires mobile app Niffler

The acquisition will aid Helpchat in expanding to Pune and Mumbai faster as Niffler already has a presence in these key markets. Visual sourced from Niffler website

Coraza Technologies Pvt. Ltd which operates instant messenger-based personal assistant platform Helpchat, has acquired Mumbai-based mobile app Niffler that helps discover deals and discounts from brick and mortal stores.

The company did not disclose the size of the deal.

After the acquisition, the entire team at Niffler will join Helpchat.

The acquisition will aid Helpchat in expanding to Pune and Mumbai faster as Niffler already has a presence in these key markets.

“We are geared for aggressive pan-India growth in the coming few months. The acquisition of Niffler is one of the first major steps in this direction. Niffler team has expertise on community-driven experiences and retailer supported commerce. They share our vision of enabling consumers to get more done through chat-based personal assistance,” said Ankur Singla, chief executive officer (CEO) and founder, Helpchat.

“Acquisition will also help Helpchat accelerate the growth of its personal assistant engine across the areas of offline commerce and local deals based on user’s intent,” he added.

Founded by Edul Patel, Prince Arora and Viraj Shah in July 2014, Niffler helps user find deals and discount from offline merchants across categories including food and drinks, spas and salons, apparel and home décor. It had recently also introduced chat-based interactions between consumers and local businesses.

Niffler had raised a funding worth $1 million in March 2015 from SAIF partners.

Helpchat, which rebranded itself from online complaints redressal company Akosha in July, currently offers information and assistance for various chores, ranging from phone recharges to tech support and travel bookings.

It now also plans to introduce payment options as part of its service.

The company raised around Rs.100 crore from Sequoia Capital in May this year. It also bought 70,000 sq. ft space in Bengaluru.

It currently has over 600 employees with offices in Bengaluru, New Delhi and Mumbai. According to Singla, Helpchat will raise headcount to 1,200 by March 2016.

The company says it handles 50,000 requests a day, with 30% coming from Bengaluru.

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This article was first published on Livemint.com

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Following vacancies can be applied for (only in Singapore).   

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.