🚀 Medial Secures Investment on Shark Tank India - Fueling the Future of Professional Social Networking. 🔥
✕
Login
Home
News
Messages
Startup Showcase
Trackers
Premium
Premium Content
Jobs
Notifications
Settings
Try our Valuation Calculator →
Log In
News on Medial
Ecommerce enabler POP to introduce shopping currency, POPcoins, for 500+ brands by March 2024 - StartupNews.fyi
Startup News FYI
·
1y ago
Medial
Ecommerce enabler POP plans to onboard 500 brands by March 2024, offering its rewards currency POPcoins to shoppers for discounts. With POPcoins, consumers can earn and shop across a network of brands, simplifying and unifying loyalty programs in India's retail sector. Former Flipkart senior director Bhargav Errangi leads the team at POP, aiming to create a large and engaged community of online shoppers. Since its beta launch in May 2023, POPcoins have engaged over 1.5 million customers, with expectations to reach 10 million by March 2024.
View Source
Related News
Ecommerce firm POP to launch marketplace for D2C brands with its own UPI
Economic Times
·
1y ago
Medial
Ecommerce firm POP plans to launch a curated marketplace for digital first brands, offering discounts through its own reward currency called POPcoins. The platform aims to address the rising customer acquisition costs caused by saturated advertising channels such as Facebook and Google Ads. POPcoins can be earned through the company's UPI handle and redeemed across various brands on its network. The platform has already onboarded 140 brands, including Perfora, Slurrpfarm, Anveshan, and Khadi Essentials, and expects to engage 10 million customers by March 2024.
View Source
POP helps D2C startups tackle customer acquisition and retention hurdles
Entrackr
·
1y ago
Medial
A group of former Flipkart employees, led by Bhargav Errangi, is working to fix a big hurdle faced by D2C startups – acquiring new customers. Through their platform POP, the Bengaluru-based startup aims to build a vast pool of customers, who are preferably ecommerce savvy and drive sales through a reward currency. Conveniently called POPcoins, the reward currency is driven by the group’s learnings with Flipkart’s popular Supercoins. We spoke to the company founder and CEO Errangi to learn how the platform works, what makes it different from the competition, and future roadmap. Here are the edited excerpts: How does the platform work? Please help simplify the process. POP intends to create a network of e-commerce users which constitutes genZ and late millennials on the back of POPcoins. Brands participating in the POP network will get access to this network and can acquire and retain customers much more efficiently than the current modes of customer acquisition. Moreover, we have a SaaS product that is already being used by 120+ D2C brands. It is a simple Shopify plug-in that can be integrated within the brand website, which enables the brand to issue POPcoins and let customers redeem POPcoins on their purchases. Apart from that, POP will be launching a D2C e-marketplace which will house 500+ D2C brands and also its own UPI handle where users can earn 2% back in POPcoins on every transaction. Both these businesses will be launched within the same app platform, which is ready to be launched in May’24 What makes your platform unique? What sets us apart is the ability to merge two distinct worlds—bottom-up loyalty solutions and top-down co-branded credit cards. POP understands that to attract anchor brands to our network, we must offer a product that they genuinely value. The co-branded credit card approach not only differentiates us from competitors but also creates a symbiotic relationship between banks, anchor brands, and POP. How is it different from the likes of MagicPin? Also, please explain your fintech features. Very different, POP is focused on the D2C market. The redemption options of POPcoins will be focused on D2C brands. Within the world of D2C, POP aims to incentivise customers who are avid shoppers of D2C brands. These are users who think beyond the mainstream brands and want to stand out of the crowd with their lifestyle choices. Whereas Magicpin is a discounted voucher platform where a user can buy vouchers of any brand- offline or online at discounted rates We will have two fintech offerings- UPI and a co-branded credit card. On every UPI transaction, a user gets 2% value back on POPcoins. On every online transaction made on our credit card, the user earns 10% value back on POPcoins Please help us understand the regulatory compliances required for your fintech features, such as co-branded cards. A ‘TPAP’ license is needed to become a UPI payments player, like PhonePe, Gpay, etc. We have obtained one recently. A partnership with a bank is required to launch a co-branded credit card. Our first partnership with a large bank will be rolling out soon. Are you planning to raise fresh funds in the near future? We have already raised a seed round last year. We have enough funds in the bank for now, and we are focusing on the launches right now. Sometime later this year, we plan to raise our series A.
View Source
Fintech firm Pop hits monthly run rate of 1 million UPI transactions in two months
Economic Times
·
11m ago
Medial
Fintech firm Pop, founded by former Flipkart employees, has achieved a monthly run rate of one million transactions in its second month since launch and aims to be among the top ten UPI apps by year-end. Pop offers UPI rewards in the form of Popcoins that can be redeemed to purchase products from D2C brands within the app. The company aims to leverage UPI usage to attract a user base interested in buying new-age brands. Popcoins earned via UPI transactions are driving over 20,000 monthly e-commerce orders and the company expects this to reach one million monthly orders by year-end.
View Source
Fintech startup POP raises $2.4 Mn led by India Quotient
Entrackr
·
1y ago
Medial
Fintech startup POP has raised $2.4 million in seed funding round led by India Quotient and a few prominent angel investors. The Bengaluru-based startup also announced that it had received approval as a Third-Party Application Provider (TPAP) from the National Payments Corporation of India (NPCI) to offer UPI payments via its POPclub app. POP also joins prominent players like Google Pay, PhonePe, WhatsApp, CRED, and Paytm as a third-party app authorised to provide UPI payments. It has partnered with financial firms such as Yes Bank and Juspay to build its UPI stack. The funding will help expedite the implementation of various initiatives, including the POP UPI service that will enable users to earn POPcoins with every UPI transaction made through the app. Launched in May 2023 by Bhargav Errangi, POP intends to create a network of e-commerce users which constitutes genZ and late millennials on the back of POPcoins. These POPcoins can be used to buy a wide range of products from all major direct-to-consumer (D2C) brands in categories such as beauty, personal care, electronics, fashion, and home goods within the app. POP has added over 200 brands to its network, including mCaffeine, HUL-owned Simple Skin Care, Adil Qadri, Anveshan, Two Brothers Organic Farms, and Epigamia.
View Source
Skincare brand mCaffeine partners with GoKwik to boost D2C revenue
Economic Times
·
1y ago
Medial
Caffeinated skincare brand mCaffeine has partnered with eCommerce enabler GoKwik to strengthen its online presence and drive growth. The collaboration aims to enhance the shopping experience for customers and expand mCaffeine's direct-to-consumer reach, particularly in smaller towns. By leveraging GoKwik's eCommerce expertise and solutions like KwikCheckout, mCaffeine expects higher revenue, improved customer satisfaction, and reduced costs. The partnership also aligns with mCaffeine's goal of increasing market share and revenue. GoKwik's network, which includes over 4,000 eCommerce brands, will support mCaffeine in its growth ambitions.
View Source
Razorpay acquires majority stake in POP with $30 Mn investment
Entrackr
·
1m ago
Medial
Razorpay acquires majority stake in POP with $30 Mn investment Rewards-first UPI payments app POP has raised $30 million from Razorpay to grow its payments and commerce platform. With this, Razorpay has acquired a majority stake in the Bengaluru-based startup. While POP did not share further transaction details, it will operate as a separate entity. Earlier in June last year, POP had raised $2.4 million in its seed funding round led by India Quotient and a few prominent angel investors. The fresh proceeds will be used to improve its products, grow its merchant base, and enhance its rewards program. POP started its UPI platform in June 2024. It claims to have crossed 6 lakh daily transactions and 1 million unique monthly transactions within the first year. According to the company, it fulfilled 2 lakh orders and issued over 40,000 RuPay credit cards in collaboration with Yes Bank. POP’s main feature is POPcoins, a multi-brand rewards currency that consumers earn when making payments or shopping on the platform. These POPcoins can be redeemed across POP’s extensive merchant network, offering users flexible and valuable incentives. Razorpay’s investment in POP expands its services into loyalty, engagement, and commerce. POP’s payments and rewards ecosystem lets merchants reward transactions and payments directly. Previously in September 2022, Razorpay acquired PoshVine to add loyalty and rewards to its payments stack. POP will help Razorpay serve merchants by offering payments, loyalty, and engagement services in a single platform. The development follows Razorpay’s recent announcement to shift its domicile back to India from the US. While the company has no immediate plans for a public listing, it has completed key regulatory steps, including its transition into a public limited company and securing approval for the merger of Razorpay Inc. with Razorpay India. Razorpay stands out as one of the few profitable unicorns in the fintech space, having reported revenue of Rs 2,068 crore and a profit of Rs 35 crore in FY24. The company is yet to announce its FY25 results.
View Source
GoKwik clocks $20 million in FY24 sales, expects to double in current year
Economic Times
·
1y ago
Medial
Indian ecommerce enabler, GoKwik, reported sales of $20 million in FY24 and expects to double its revenue in the current fiscal year. With over 4,000 ecommerce brands in its network, the company aims to onboard 15,000 brands by next year. GoKwik offers solutions to predict customer behavior and prevent return-to-origin (RTO) orders, which can be costly for ecommerce brands. The company believes that the direct-to-consumer (D2C) model will gain traction, AI will help solve ecommerce challenges, and influencer-led commerce will continue to grow. GoKwik aims to achieve profitability at the company level by FY26.
View Source
GoKwik acquires Shopify app Return Prime, forays into global market
Economic Times
·
11m ago
Medial
Bengaluru-based eCommerce enabler GoKwik has acquired Return Prime, a returns management app in the Shopify ecosystem. The acquisition allows GoKwik to enter international markets such as the UK, Europe, and the US. Return Prime provides a platform for brands to manage returns and convert them into revenue opportunities. Efficient returns management has become crucial for merchants as online shopping continues to grow. With this acquisition, GoKwik aims to improve the customer experience, boost merchant revenue, and increase customer lifetime value. The company plans to onboard 10,000 new merchants and expects significant revenue growth in the coming years.
View Source
GoKwik appoints former PayU director Ravi Kant Arora as senior vice president of finance
IndianStartupNews
·
1y ago
Medial
Indian eCommerce enabler, GoKwik, has hired Ravi Kant Arora as the Senior Vice President of Finance. With over 15 years of experience in corporate finance, Ravi will oversee financial operations, planning, control, and compliance. Prior to GoKwik, he held senior finance positions at Stanza Living and PayU, where he contributed to financial planning, analysis, and business growth. GoKwik offers solutions to enhance the checkout experience and combat returns-before-delivery for eCommerce brands. It serves over 1,200 brands, including Lenskart and Mamaearth.
View Source
Startup news and updates: daily roundup (August 26, 2024)
YourStory
·
11m ago
Medial
Velocity, a financing platform, has set aside Rs 400 crore to provide funding for direct-to-consumer (D2C) and ecommerce brands during the festive season sales. This allocation is an increase of over 60% compared to the previous year, indicating higher expectations for this year's festive season. The financing will support brands on various ecommerce platforms, allowing them to expand their product range, improve delivery times, and take advantage of emerging trends. Additionally, InsuranceDekho has launched Heph, a SaaS platform designed to streamline operations for insurance distributors. Fintech startup POP has achieved a monthly run rate of one million UPI transactions.
View Source
Trackers
Active Indian VC’s
OG Capital
Email
With a hands-on approach, OG Capital aims to invest in over 20 promising...
Accel Partners
Email
Early and growth-stage investments in disruptive technology companies with...
Blume
Email
Early-stage venture capital firm investing in technology startups in India. Focus on...
Access All Trackers
Startup Showcase Winners
June 2025
Buddy
Helping your parents when you are miles away
BiteStop
The Pit Stop Your Cravings Deserve
Bloomer
The next generation E-commerce platform
Enter Ongoing Startup Showcase
Top Users
Trending News on Medial
Download the medial app to read full posts, comements and news.
Go to Medial App
Not Now
Know everything that’s happening in the startup ecosystem, first.
Enable Notifications?
No, thanks
Count me in