The online retail platform Zovi’s founders have raised $50 million for their hyper-local app Little which helps the users to find the best deals on restaurants, movies, hotels and much more around them, whenever they want. The investment round was led by Paytm, SAIF Partners, and Tiger Global, and a large new undisclosed investor.
According to Manish Chopra and Satish Mani, the co-founders of Zovi, the raised funds will be used to build the largest merchant ecosystem, hire more talents and enhance the technology platform. Little will use Paytm as the payment gateway after this funding round.
“With Little, we aim to change this by offering a real time, personalised and location-based marketplace which can offer contextual and purposeful deals as it learns one’s usage habits.” said Manish Chopra, CEO & Co-Founder of Little. “Little’s differentiating strength and power will come from having the largest and deepest merchant base who see Little as their ‘sales partner’ for enabling them to get profits from selling their services.” he added.
The company is already employing 400 people and claims to have already enrolled over 5,000 merchants. It is also building an O2O supply side infrastructure to offer 50,000+ live deals across 11 cities by March 2016.