In its seventh investment in start-ups, Digital commerce and payments company Paytm has invested an undisclosed amount in mobile loyalty and data analytics firm MobiQuest Mobile Technologies.
The move will help the SoftBank and Alibaba-backed Paytm’s merchant partners leverage MobiQuest’s data analytics and precision-marketing solution in acquiring, engaging and rewarding customers.
Paytm seems to be in investment mode as promised by its Founder Vijay Shekhar Sharma, who said in 2015 that his company will invest about $200 million in technology start-ups and pick up 20-24 per cent stake.
Till date, the firm has invested in seven start-ups such as SaaS-based logistics company LogiNext, auto-rickshaw aggregator Jugnoo and offline-to-online discovery platform Little.
Last week Paytm, has acquired a majority stake in Insider.in, an online ticketing platform.
Paytm Payments Bank is also using its Digital gold savings product to make inroads into small towns and semi urban locations.
“Over the last year, we have enabled our partnered offline merchants with Paytm’s QR code-based payment solution. In the next phase, we aim to enable them with tools that will help them drive incremental sales and revenues,” said Sudhanshu Gupta, Vice President, Paytm.
Founded by Vineet Narang in August 2008, MobiQuest works with customers to seamlessly enable their business processes on mobile.
Its m’loyal platform provides loyalty, analytics and campaign management solutions to over 200 brands and over 80 million consumers across sectors such as retail, food and beverage, fashion, malls, and hospitality.
In addition to Indian market, it has operations in Malaysia, Singapore and Dubai.