Company Name : HeyBiz
Funding Amount : Undisclosed
Investor(s) Shopclues . .
Funding Round : Seed Round
ShopClues recently invested an undisclosed amount in HeyBiz mobile app. The investment will be directed towards enhancing the product and expanding its market base in cities across India.
Founder by Bhartesh Chhibbar in January 2015, HeyBiz helps users discover local shops and is available on both Android and iOS platforms.
HeyBiz Founder and CEO, Bhartesh Chhibbar said, “We are excited about the new partnership with ShopClues as we see a big overlap in our respective brand ideologies and vision. With the capital infusion, we are confident that we are one step closer to realising our goal of making HeyBiz the market leader in the Sales-Marketing-Support platform for our businesses and the one-stop mobile shop for our users.We intend on expanding into newer geographies like Chandigarh, Amritsar, Ludhiana, Lucknow and Jaipur.”
Sanjay Sethi, CEO & Cofounder, ShopClues, said, “In this digital era, we are glad that someone is there to bridge the chasm between customers and local businesses. In HeyBiz, we saw the potential to become the one-stop platform to mend this gap. The ease of use of the app and the reliable information that it accumulates and disseminates about businesses, makes this a promising venture that’s only likely to grow in the future. So, we decided to lend this 10-month old company the financial impetus that can really enhance its reach and operations.”
Earlier, Shopclues had raised a funding of $100mn in Series C led by Tiger Global partners. The company recently also stated that it is planning to invest close to $50 million in acquiring startups and plans to accelerate expansion.