Mumbai-based start-up Niffler raises $1 million from SAIF Partners

The seed funding from SAIF Partners not only bolsters our business confidence but will also enable us to drive more innovation through technology-based investments, says company's Co-founder

Mumbai-based start-up Niffler, that enables consumers to find the best deals in brick and mortar stores, has raised USD 1 million seed fund investment from venture capital firm SAIF Partners.

Niffler, a brain child of three IITians; Edul Patel, Prince Arora and Viraj Shah, allows users to find deals from offline merchants across categories including food, drinks, spas, salons, apparel and home decor.

"The freshly infused capital would be used towards expansion and diversification," the company said in a statement.

"There has been a significant uptick in appetite for businesses that connect offline businesses to consumers via mobile and we are certain that Niffler will scale tremendously in the days ahead," SAIF Partners Principal Mukul Singhal said.

Commenting on the fund raise, Niffler Co-founder Viraj Shah said: "The seed funding from SAIF Partners not only bolsters our business confidence but will also enable us to drive more innovation through technology-based investments."

The app provides a personalised experience where users are notified of new offers from their favourite brands as soon as they go live. It also learns from a user's habits and serves up curated deals based on items that a user likes.

The app is currently available for Android on Google Play and is going to be launched soon on the iOS platform, the company said.