Launched in December 2015, Loofre.com has already expanded to nine major cities across India with tie-ups with more than 800 restaurants. It also plans to go international by expanding its services to cities like Dubai, Hong Kong and Singapore.
Loofre said in a statement on Monday that the $1-million investment will be funded through internal accruals, and was looking at investing more if its India operations increased further. The startup is also looking to expand through organic or inorganic growth, besides introducing wellness categories and venturing into the vouchers business.
"Even though our target is India, we are not restricted to any geographical location. We are looking at expanding our services either organically or inorganically to countries like UAE, Hong Kong and Singapore," K5 Brands' managing director, Rohit Mahajan, said in the statement.
According to the company, Loofre.com, which connects restaurants and diners to discover the best offers or discounts in nearby locations along with the added advantage of personalized hospitality according to the diner's need, cuisine, budget and preferred ambience, will soon come up with an app-based booking engine.
"The website will be complemented by social media applications, merchant applications and consumer applications. Eventually, consumers can book, place orders and pay through their mobile phones," it added.
