EasyRewardz raises USD 2 mn towards expansion of footprint

EasyRewardz, a customer experience management company on Tuesday announced that it has completed a USD two million Series A round of financing round led by TransContinental Venture Fund, existing angel investor Jitendra Gupta (MD PayU), new investor Vinay Chatlani (co-founder and CEO Soch) along with Venture Catalysts Angels.

The investment will help the company aggressively expand its sales and marketing efforts, both in India and overseas, as well as broaden and accelerate product development. Further, Ashesh Shah, Founder of TCVF, will join the EasyRewardz Board of Directors.

Founded by Angad Singh( ex-investment banker, Barclays), SapanKadakia (alumnus, MICA and winner of Global Young Entrepreneur,2012), SoumyaChatterjee (ex -CTO, Yebhi.com) and TejasKadakia ( Ex-AVP of BNP Paribas, New York), EasyRewardz analyses the shopping behavior of the individual on the basis of her/his interactions with the brand and helping the brand understand the shopper better and make recommendations to the brand on campaigns that generate the requisite ROIs.

EasyRewardz provides its clients with the customer insights they need to make smarter business decisions and build relevant, rewarding and long-term one-to-one relationships.

Its comprehensive engagement strategy also enables better customer retention, improved average transactional value, influencing purchases towards more profitable baskets, acquisition of new customers and deferred discounting.

"This funding round validates our vision towards building the most insightful channel for brands to connect with Shopper and influence transaction behavior. Having the financial support of investors will help us execute our vision to become a market leader in our chosen field of customer experience and loyalty solutions," said Soumya Chatterjee, co-founder and CEO of EasyRewardz.

"EasyRewardz has built a best-in-class product and full range of solutions for brands in India and abroad. We are highly impressed with the focus of the founders on unit economics and profitability, and the scale that they have built without any institutional funding till date," added Ashesh Shah.