Thursday, July 18, 2024
HomeBusiness'We Are Working On The Gamification; Planning To Raise Funds' Mehul Jobanputra,...

‘We Are Working On The Gamification; Planning To Raise Funds’ Mehul Jobanputra, Co-Founder & Jimish Jobanputra, Co-Founder and CTO

We want to be India’s best reward platform and share the maximum profits with our users. So in terms of growth, we are looking up towards the investors.

Tell us about your venture? How does it work?

Zingoy Rewards Pvt Ltd was established in 2015 in Mumbai as an online shopping cashback site It serves customers with cashback earnings, branded gift cards (Big Bazaar, Domino’s, etc.), and free survey earnings. First, users need to visit the online shopping site via the platform and place their orders for cashback earnings. Then, we track & validate the transaction for successful cashback.

What are your offerings? How does it help different customer categories B2B, B2C & C2C to get better deals and enhance their shopping experience?

Zingoy provides cashback on 300+ online shopping sites along with the latest deals and coupons. It also allows users to buy and sell branded gift cards at the best prices. Next up, it also helps users earn via filling-free surveys based on their profiles.

Zingoy B2B: Corporate gift cards (bulk discounts), eCommerce brand promotions via deals or freebies. We are also looking to tie up with our Zingoy-Rupay Prepaid Cards for their employees and clients.

Zingoy B2C: Cashback earnings via online shopping, surveys, and gift cards. Also, customers earn by selling gift cards, share & earn programs (sharing deals), and refer & earn programs.

Zingoy C2C: Selling branded gift cards to other customers. Earning via sharing deals and inviting friends.

How much revenue has Zingoy generated so far (yearly) & future forecast?

We are going to hold more than Rs 450 Crores GMV on behalf of our ecommerce partners.

What are your plans for funding & expansion? If you have any, please share specifics?

We are planning for market funding after the festival sale (after November)

What makes you different from other cashback platforms?

Associated with over 300 online merchants, Zingoy is the only cashback platform that allows users to resell their unused gift cards. We also offer the best cashback rates and multiple mediums through which shoppers can earn money, such as online shopping, gift cards, surveys and more. Apart from this, we also ensure that our users get the best and latest deals from any of our merchants and thereby guaranteeing, the platform enables everyone to have a fruitful and cost-effective shopping experience.

What is the significance of the cashback Industry & what is its future looks like in India?

The cashback industry has grown over the past 2-3 years, with ecommerce taking a giant leap. With more and more people now knowing the various advantages of online shopping due to Covid-19 restrictions, it has many scopes ahead. Being a budget-conscious country, India always strives for savings wherever they can and what better than some extra cashback on offer (just like a complimentary dessert voucher on dinner).

What is the market size, and what opportunities lie ahead?

Zingoy’s market opportunities are associated with the growth of online shopping and deals. Since every e-commerce player is entering Tier 2 and Tier 3 cities from Tier 1. We are also looking for a growth opportunity towards the same. And as a company, we are looking to increase our operations and reach other popular vernacular language segments.

What is the road ahead for Zingoy?

We want to be India’s best reward platform and share the maximum profits with our users. So in terms of growth, we are looking up towards the investors.

What main things are there in the pipeline?

We have recently launched the Zingoy Pre-paid Cards with the partnership with Rupay Cards. We are now working on the Zingoy gamification to increase our user’s experience and engagement.

Who is your targeted audience?

Our target audience includes online & offline shoppers, gift card buyers & sellers. These people love to save on everything, enjoy new & unique products & services, people looking to earn money via online job and corporates looking for gifting solutions.

Source: Business World

- Advertisment -

Most Popular

Recent Comments