Investments, Startups

Singapore-based Startup Spini Sets Up Base in India With $1M Funding

Singapore-based startup Spini has set up base in India at Chennai with first round of funding from Walden International. The startup raised $1 million to fuel India expansion and development of its platform.

Spini is a referral platform and an online marketplace where sales persons can source sales leads and anyone can monetize information. It was co-founded by Eddie Chau, Shankar G and Chong-Kian Soh, and is operated by a team spread across Chennai, Bangalore and Singapore.

Being a marketplace, people can post information related to a customer planning for a purchase and salesperson bid for and buy those as leads. Spini offers users ways to make money on information they hold and the salesperson gains a qualified lead where his chances of closing the sale are much higher and his productivity increases.

“Reaching out to the right customer at the right time to close a deal has always been a huge challenge for every business. Cold calling is long dead and ineffective, therefore every salesperson is looking out for new avenues to find out their potential customers. Through Spini we have a solution which helps salespersons and also empowers ordinary people to make money” said Shankar G, Co-founder & CEO, Spini. “This investment is a powerful endorsement of our unique value proposition in the marketplace category.”

While the app has just been launched in Chennai, the company is planning to cover more cities soon and is confident of closing millions of transactions across India. In the coming years, the India operations and Singapore team will serve as the hub for all developing markets in India and the rest of Asia.

The app also provides a wide range of first-of-its kind features including quality check, anonymity, private chat facility, easy to use payment process and reverse auction based bidding that help users to monetize information and connections.

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