SmartPocket has raised between Rs 1-1.5 Crore in seed round funding led by investment firm Sol Primero and angel investor Rajiv Mehta.
Demoed at NextBigWhat’s bigMobilityConf, SmartPocket app connects brick-n-mortar businesses to customers through managing their loyalty memberships and figures out their personalized offers based off users’ telephone numbers. Started by ex-Goldman Sachs employees Kiran Shastri and Mayank Shah, SmartPocket so far has attracted brands like Puma, People and Peter England as its partners.
The newly raised funding will be used to engineer a new avatar for the platform, apart from acquiring users and business partners. SmartPocket’s goal is to have half a million users by the end of the year and achieve a 100% increase in the rate of merchant tie ups month-on-month.
Bridging the gap between traditional retailers and e-commerce companies in terms of customer engagement, SmartPocket has digitized the loyalty card boosting repeat business from customers. Calling it sort of an e-concierge desk, company COO Mayank says the app will track users’ memberships, allow them to make inquiries, book appointments and make purchases with businesses they care about.