Delhi-based coupon aggregation platform, Zoutons has raised R2Mn in seed funding from online affiliate marketing company 3.14Digital, Iamwire states. The funds will be used by the company to enhance its technology.
Zoutons was launched two months back, it helps online shoppers and deal hunters to locate latest coupons and offers from a vast pool of online retailers, brands etc. It provides coupons and deals from around 1000 companies like Jabong, Myntra, Snapdeal, etc.
Founded by Nishit Kumar, Zoutons.com is a coupons and deal aggregation website with the tagline “The Loot is on”, it is the online player in the deal aggregation space to offer coupons and deals of top 50 Banks in Indian and more than 500 pan-India brands.
The website has categorised deals under various sections such as categories, stores, brands, etc.
The company has tied up with around 6-7 ad networks, and gets 10-15% of share on every transaction being made through its platform. It has already tied up with top e-Commerce stores like Jabong, Myntra, Snapdeal etc. to provide their coupons to deal hunters.
3.14 Digital is an innovative performance marketing firm working closely with clients in lowering their eventual customer acquistion costs. Its clients include Educomp Solutions, foodpanda and NIIT Imperia.
The growth in e-Commerce industry which is more than 30% CAGR would surely rub off on coupon aggregation space which is being increasingly adopted as a marketing strategy by top online shopping stores to optimize their consumer acquisition costs.
It competes with other couponing platforms like Competes with other coupon platforms like Couponation, Couponhut, mycouponcodesindia and recently, UK-based Cashkaro and Flipit has also expanded to India.
Recently, in this segment, Cashback and Coupon website- Cashkaro raised $750,000 in seed funding from UK based group of angel investors
UTI Ventures Funds Management Company Private Limited, the private equity investment subsidiary of UTI Asset Management Co Pvt Ltd, has sold its stake in Ascent Capital Pvt Ltd to the management of the firm, which is headed by Raja Kumar.