Paytm invests undisclosed amount in mobile loyalty startup MobiQuest
Digital payments platform, Paytm, has invested an undisclosed amount in Noida-based mobile loyalty and data analytics startup, MobiQuest Mobile Technologies.
The investment will help Paytm’s merchant partners leverage MobiQuest’s data analytics and precision-marketing solution in acquiring, engaging and rewarding customers.
Incorporated in 2007, MobiQuest offers a self-serve platform called M’loyal, which has 200 brands as clients and a database of 80 million consumers. With the M’loyal platform, which is available for brands across retail, F&B, fashion, malls, health and wellness and hospitality, sellers on the Paytm platform can sign up for precision marketing across online and offline channels.
Sudhanshu Gupta, Vice-President, 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.”
The company will continue to operate as a separate entity post its partnership with Paytm.
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.”
Source: Indian Retailer, JULY 18, 2017