Restaurant cashback app Zaggle to invest $8 million in expansion

Hyderabad-based corporate gifting firm eYantra's founder and serial entrepreneur Phani N Raj has floated Zaggle, a restaurant cashback app that benefits the customers with cash back on every bill they pay at food outlets.

The company has already invested up to $2 million and has plans to invest $8 million more in the business model in due course, Raj said in a statement on Thursday.

Zaggle has been initially launched for 1,400 outlets in Hyderabad and Pune, including restaurants, bars and clubs.

How does Zaggle work? The bill has to be uploaded within one kilometre radius of the restaurant and within 24 hours of the visit. The cash back can be redeemed against more than 50 e-vouchers, including mobile recharge, movie tickets and more from leading brands like Flipkart, Amazon, Dominos, Freecharge etc.

"The mobile app is the latest offering from our stable, and fosters the culture of restaurant goers and group dining experience, in the times when ordering food online has become the order of the day," Avinash Godkhindi, chief executive officer and managing director of Zaggle, said in the release.