A startup based in Bengaluru HappyCredit – an application for immediate funding – on September 22 announced that it had raised Rs 5 crores in the pre-seed cycle to accelerate its growth. The new funds will be used to introduce new products, build talent and improve the company’s growth, the company said.
HappyCredit – developed by Jitendra Kumar and Ashish Virmani – is an online shopping app that gives consumers rewards, credit, and motivation to shop.
Earlier, HappyCredit unveiled its award-winning product ‘Aishback’, which is a high-value way to refund regular cash because it is fast and can be transferred directly to the bank.
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“The e-commerce market is strong and has always been a shopping spree among consumers in urban and rural areas of India. We wanted to provide consumers with one place where they would earn a living by buying. Kumar.
The financial cycle has featured from Kunal Shah (CEO, CRED), Krishna Kumar (CEO, Simplilearn) and American and Canadian investors such as Goodwater Capital, Magic Fund, MyAsiaVC, Alex Lin (CEO, Outlier), Jeremy Cai (CEO, Italic), Chris Ye (CEO, Uken Games), Saad Siddiqui (CEO, Bonsai), Andrew Ladouceur (COO, Bonsai), Charlie Feng (Co-founder, Clearco) among others.
“India’s e-commerce industry is poised to grow with a strong number of young people, increasing Internet and smartphone penetration.
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Currently, the HappyCredit app has 50+ merchant landmarks on its platform, such as Flipkart, Myntra, Ajio, Mama Earth, among others. The firm is proposing to introduce new credit products and estimates the user base to 1.5 million over the next 12 months.