eYantra plans USD 8-mn investment in restaurant CB biz model

eYantra founder and serial entrepreneur Phani N Raj has launched 'Restaurant Cash Back App - Zaggle', which benefits the customers with cash back on every bill they pay at food outlets, and plans to invest an additional USD eight million in the business model.
The company has already invested up to USD two million, and plans to invest an additional USD eight million. Zaggle has been initially launched for 1400 outlets in Hyderabad and Pune including restaurants, bars & clubs, according to a company statement.
Within six weeks since going LIVE, Zaggle, available on Android and iOS platforms, has crossed 70,000 downloads. The App doubles up as a directory of restaurants and other food outlets in chosen locations. Upon dining at the specified joints, Zaggle user can click the picture of the bill and upload it on the App. This helps him accrue points that can be redeemed as e-vouchers upon visit to identified brand stores, the statement said.

The cash back can be redeemed against more than 50-plus e-vouchers including mobile recharge, movie tickets and more from leading brands like Flipkart, Amazon, Dominos and Freecharge, the company added.