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Paytm Invests in MobiQuest, Mobile Loyalty Startup

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8 years ago

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Mobile payments startup Paytm, in a blog, announced they will be partnering with mobile loyalty startup MobiQuest Mobile Technologies. The details about the amount Paytm will be investing in the Noida based startup were not disclosed.

MobiQuest, founded in 2008 works in the mobile loyalty and data analytics startup space. Their flagship product M-loyal is a mobile based platform that combines mobile technology with deep drill down analytics to provide higher returns on investments (ROI.) According to Paytm, this partnership will allow them to help their 5 million merchant partners engage with their customers by using their data analytics and precision marketing solutions. Using the m-loyal platform online Paytm sellers will be able to design customized multichannel loyalty programs enabling them to engage and return to their consumer base.

Vice President of Paytm, Sudhanshu Gupta said, “ In the next phase, we aim to enable them with tools that will help them drive incremental sales and revenues. Our partnership with MobiQuest will help us offer mobile based loyalty programs to our partner merchants.”

MobiQuest was founded by Vineet Narang in 2008 and works with customers to seamlessly enable their business processes on mobiles. The platform provides loyalty, analytics and campaign management solutions to over 200 brands and over 80 million consumers across various sectors.

CEO of the company Vineet Narang said they were excited to partner with Paytm and leverage their huge consumer base. He added their team is dedicated to the mission of using real time transaction data to drive meaningful insights for the brands and their marketing ROI.

This marks the seventh investment by the One97 Communication owned company. They have previously invested in technology start ups such as SaaS based logistics company LogiNext, auto rickshaw aggregator Jugnoo and offline to online discovery platform Little.

Paytm’s recently launched ecommerce arm, Paytm Mall revamped their seller onboarding process and delisted over 85000 sellers. The aim of the company is to only partner with reputed shopkeepers and brands to establish the authenticity of the sellers on its ecommerce platform.

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