500 Startups invests $125K in Indian coupons and cashback app LafaLafa

Image sourced from Yosha Gupta's Twitter page.

LafaLafa, a mobile-first coupons and cashback aggregator, has secured $125,000 in funding from Silicon Valley-based seed fund and startup accelerator 500 Startups.

The five-month-old LafaLafa, which is owned by Yellow Brick Road Digital Marketing Ltd, has been selected by 500 Startups for the 15th batch of its four-month accelerator programme in Mountain View, California, as per a press statement.

“We feel incredibly proud to be part of the 500STRONG family. It’s a once in a lifetime opportunity and we can’t wait to get to Mountain View and learn from the best minds in technology, product and distribution channels to build and scale LafaLafa further,” said Yosha, founder of LafaLafa.

LafaLafa claims to have touched over 300,000 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.

The startup is now working on building a chat interface, which will help users to find the best deals by chatting with the firm’s agents.

“I was very impressed with LafaLafa’s quick execution and growth. What was even more exciting was Yosha’s deep understanding of mobile FinTech and the opportunities that LafaLafa has in front of them. We’re very excited to work with the LafaLafa team,” said Pankaj Jain, 500 Startups India partner.

Yosha and two international angel investors started LafaLafa with an initial capital of $130,000. Yosha has over 10 years of experience in financial technology sector and worked across Asia including India, Hong Kong, Indonesia, China, Vietnam, Philippines, and Myanmar with her most recent role being a financial inclusion consultant with the International Finance Corporation of World Bank.

She has an MSc in Finance from Hong Kong University of Science and Technology and an undergraduate degree in Economics from Lady Shri Ram College for Women of Delhi University.

Dave McClure co-founded 500 Startups with Christine Tsai in 2010 with an aim to assist consumer and small & medium-sized internet startups with funding and incubator programmes. The firm’s 1,200 portfolio companies include such startups as Credit Karma Inc., Intercom Inc., Twilio Inc., Talkdesk Inc. and Udemy.

The company has also backed about 30 Indian startups from its global fund, including TargetingMantra, a personalisation platform for online businesses, and marketing firm ZipDial, which was acquired by Twitter in January. It is currently in the process of raising funds for its India fund Startupwallah.

Also Read: 500 Startups raises $85m for its third VC fund

Indian venture capital activity to see record highs in 2015: Preqin

India needs more local Venture Capital firms for stable ecosystem

 

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.

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.