PAYTM INVESTS IN MOBILE LOYALTY STARTUP, MOBIQUEST
Digital commerce and payments company Paytm which is run by Alibaba’s One97 Communications has invested an undisclosed amount in mobile loyalty and data analytics firm MobiQuest Mobile Technologies. Post investment, MobiQuest will continue to run as separate entity.
The Noida-Based startup was founded in 2007. MobiQuest is a mobile Enterprise Platform Company. The company uses the SAAS model to provide the customers with mobile based enterprise business automation applications. The company has created more than 50 mobile applications across many Industries. Some of their flagships products are: MobiResearch, MobiInsure, MobiData, MobiAssess, MobiBank, MobiTest, MobiEvaluate, MobiOpinion, MobiRegister, MobiVerfiy, MobiHire, MobiConnect and more.
Vineet Narang, CEO MobiQuest said, “We are excited to partner with Paytm and leverage the huge consumer base of the platform. Our teams are dedicated to the mission of using real time transaction data to drive meaningful insights for the brands and consistently drive up their Marketing ROI.”
Paytm has invested in its loyalty program named M’Loyal which offers a self-served mobile-enabled loyalty, analytics and campaign management platform to brands across sectors – retail, food and beverage, fashion, malls, health and wellness, and hospitality.
Paytm quoted in a statement that “This association will power the Paytm-partnered merchant network to leverage Mobiquest’s data analytics and precision-marketing solutions in acquiring, engaging and rewarding its customers. Merchants will soon be able to design customised multichannel loyalty programmes, which will enable them to retain and engage their consumer base, besides increasing their revenues.”
Another startup in same category m.Paani raised $1.3 Million from IDG Ventures and Blume ventures.
M’Loyal platform is used by over 4,000 retail stores across India, Malaysia, Dubai and Singapore. The company claims to serve over 200 brands and over 80 million consumers. Some of its clients include, Dominos, Pizza Hut, Orchid Hotels, Fab India and Apollo Hospitals.
Sudhanshu Gupta, vice-president at Paytm, said ” In the next phase of growth, we aim to enable our offline partner merchants with tools that will help them drive incremental sales and revenues. Our partnership with MobiQuest will help us offer mobile-based loyalty programs to our partnered merchants.”
Source: News Liner, July 18, 2017