HappyCredit, an instant cashback rewards platform, has raised Rs 5 crore or $676K in pre-seed round from Kunal Shah, Krishna Kumar along with US and Canada-based investors such as Goodwater Capital, Magic Fund, MyAsiaVC, Alex Lin and others.
According to the Bengaluru-based startup, the proceeds will be used to launch new products, build talent and enhance its growth.
Founded by Jitendra Kumar and Ashish Virmani, HappyCredit is an online shopping app that offers shoppers rewards, credit, and shopping inspiration. It launched its rewards product ‘Aishback’ in the market earlier this year.
The startup claims to have over 50 e-commerce merchant brands on its platform, such as Flipkart, Myntra, Ajio, Mama Earth, to name a few. The app has also received over 50,000 downloads on the Google Play store.