Flipkart invests Rs 30 crore in customer engagement firm EasyRewardz

Flipkart has invested in customer engagement and rewards platform EasyRewardz in a deal that will see two firms offer customer engagement solutions to sellers on the Flipkart platform.

While the two companies declined to disclose the specifics of the transaction, sources said the Flipkart's investment is around Rs 30 crore. 

“Flipkart continues to make investments in the Indian ecosystem in order to deliver value to our customers. Our investment in EasyRewardz is part of our ongoing initiatives to give superior customer experience,” a Flipkart spokesperson said in an emailed response to a Business Standard query.

In a statement, Easyrewardz said the investment will help it drive new product development and accelerate global expansion.

"CRM Software has a market size of $48 bn, and is seeing a 16 per cent year-on-year increase globally, with APAC growing faster at over 20 per cent. We see CRM Software adoption fastest amongst SMBs in retail as customer-centricity continues to hold centre-ground in retailing,” said Soumya Chatterjee, co-founder and chief executive officer, EasyRewardz.

Chatterjee along with Tejas Kadakia, Angad Singh, and Sapan Kadakia founded the firm in 2011. Easyrewardz the customer engagement software as a service to customers in India, West Asia, and the Middle East, among others. The company has annualised revenue of Rs 25 crore, it claimed.