Helion Ventures, a $140 million venture fund jointly started by Sanjeev Aggarwal of Daksh fame, is investing around Rs 10 crore in Bangalore-based mobile commerce firm JiGrahak. | |
| JiGrahak, which translates into 'Yes Customer', enables mobile commerce and payments through its platform, NGPay (Next Generation Pay). Once downloaded on to your mobile with this platform you can check schedules and buy airline tickets, movie tickets or order a pizza from your mobile phone. |
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| All this comes at no cost to a consumer and the company has built in a revenue model through the merchant establishments. As of now, using this platform one can book Air Deccan tickets, and buy a range of stuff listed at Sifymall.com. |
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| The company is in the process of tying up with Inox chain of theatres across the country besides many other utility payments. JiGrahak has tied up with Visa and MasterCard credit card payment gateways and will expand this tie-up for debit cards. |
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| Seeing the demo one gets the feeling that what we are currently transacting over the internet, can be easily done over our mobile phones in the near future depending on the kind of network of merchants this company can bring on to the platform. |
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| "JiGrahak is an early mover in the fast-growing mobile commerce space in India and its NGPay solutions is one of the few end-to-end mobile commerce solutions available today," said Kanwaljit Singh, a partner at Helion Ventures. |
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| "With over 100 million mobile phone users in the country, JiGrahak is really addressing a huge potential market," he added. |
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| Added Sourabh Jain, CEO, JiGrahak: "Mobile phones are fast becoming the preferred mode for communication, entertainment, data services, etc. Businesses can use the NGPay platform as a new 'anytime, anywhere' channel to offer their products or services, like movie tickets, flowers, book, airline tickets, gifts, etc to customers." |
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