Bengaluru-based deal discovery and cashback platform, PaisaWapas.com which is owned and operated by Nxtify Technologies Private Limited, has raised an undisclosed amount of angel funding from Vividhity Ventures, a group of IIT BHU & Mumbai alumni and top executives from Infosys & Dell.
Started in May 2015, PaisaWapas.com is a platform for college students to discover products, courses, success stories, deals & save extra money on their online transactions. The startup provides exclusive deals & extra cashback to students when they shop on its over 300 partner stores.
The startup works very closely with college students & help them learn about marketing, business development, programming etc. PaisaWapas.com is currently working with a team of 50 student partners in around 30 colleges from different part of India. Some of the top college are IIT Roorkee, IIT Kharagpur, IIT Delhi, Manipal University, VIT, LPU, Amity, NIT Jalandhar, NIT Jamshedpur etc.
The company was founded by Shankar Kotuli (CEO) and Ashish Kumar (COO). Shankar graduated from IIT Roorkee in 2011 and joined Vedantu straight out from college. He was working as Head of Technology at Vedantu till October 2015, then he decided to work full-time on PaisaWapas.com. Ashish graduated from IIT Kharagpur in 2016 and has been associated with company since its inception. He joined full time in june 2016.
The startup aims to utilize the newly raised funding for increasing its team strength, expanding college network to over 200 colleges, marketing & partnering with various players working on education space.
PaisaWapas.com gets around 200K monthly traffic on its website and has around 70K registered users.
In November 2015, CashKaro, an online platform for cashback and digital coupons, had raised $4 million (Rs 25 crore) in Series A funding led by venture capital firm Kalaari Capital.