LafaLafa, a mobile-first digital coupons and cashback aggregator has raised seed fund from Hong Kong-based Vectr Ventures. This is Vectr’s first ever investment in India.
The raised capital shall be used to ramp up the startup’s technology back-end and expand within Asia.
LafaLafa is owned by Yellow Brick Road and was founded in January 2015 by Yosha Gupta. The company offers coupons for 500+ websites including Paytm, Snapdeal, Flipkart etc. Further, it also gives its users cashback upon any purchase from their partner stores. Its app has between 500,000 – 1,000,000 installs and is rated 3.9 on Google Play.
Adding a comment on the development, Yosha said, “they (Vectr Ventures) have an interesting portfolio of startups 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.”
In September, LafaLafa had secured $125,000 in funding from Silicon Valley-headquartered startup accelerator-cum-early stage VC firm 500 Startups.
The startup is competing with other cashback and coupon providing players like Cashkaro, CouponDunia, GoPaisa, CouponRaja etc.