CheersOye! a social payments and gifting platform has raised an undisclosed amount of funding from a group of affluent individuals.
The funds will be used to expand their operations in other cities, marketing and and to introduce gifting verticals.
It was founded in 2015 by Rahul Srivastava and Bhavna Lalchandani. It claims to be the only experiential B2C and B2B social payments app in India which send instant, location based personalised experiences including drinks, spa appointments, dinners, etc. It specialises in salons, spa, entertainment and F&B.
The users receive an e-voucher on their email or mobile phone with the voucher details via email or SMS.
The app is available on both iOS and Android platform. It claims to have more than 50,000 downloads with 35% repeat usage. It has tied up with 1000 merchants which covers 50 localities across Mumbai.
It plans to introduce gifting categories including fashion, jewellery, travel and more. Its client includes Baskin Robbins, Palm Grove, Four Fountains. Envy Salons, Ramada, Enrich, Bombay Barbeque among others.
Other gifting platform raised funding include WeddingWishlist which raised $297k seed round of funding from Renuka Ramanath & Cherry Tin- Multiples Equity founder, Krithiga Reddy- Facebook India MD among others. Giftxoxo a Bangalore based online gifting platform acqui-hired BookMyInterest- online marketplace for extra activities and hobbies.