Bangalore: Gurgaon based Hyperlocal app Crown raises $5.5 million in Series A round of funding from Accel Partners and Helion Venture Partners. The fund will be utilized to expand its services to over 25 cities in India. It will also upgrade its technologies and append more categories for retails and aims to grow to 20 million users within three years.
Incorporated in 2014 by Sameer Grover, Crown is an app only marketplace for local businesses which helps consumers discovers local restaurants and outlets. Since from the day off its operation, the company charges merchants a marketing fee for the business it has provided. However, the fee is shared with users as cash back points and provides service in categories like florists, gift shops, local kirana stores and many more. Today, the firm claims to proffer exclusive cash back at over 2000 restaurants and outlets and its mobile application is obtainable on Google Play Store and Apple’s App Store.
Speaking about the company, Sameer Grover, Founder & CEO, Crown says, “We charge merchants on the business we actually give them. We help users discover and experience places which are relevant to them and around them, besides getting rewarded for visiting those merchants. We give merchants a measurable RoI marketing channel and charge them on the business we actually give them.”