Delhi-based Zoutons Digital Media Company, which owns and operates the online coupons aggregation site Zoutons.com, has raised Rs 20 lakh in seed funding from digital marketing company 3.14 Digital. The startup was also incubated by 3.14 Digital. The funds raised will be used to enhance the technology. The development was first reported by Iamwire.
Founded in May 2013, Zoutons claims to aggregate coupons from around 1,000 companies like Jabong, Myntra, Bookmyshow.com and Cleartrip, and earns a 10-15 per cent share on every transaction being made through its platform. The company has also tied up with six-seven ad networks for advertising on the site.
Zoutons offers coupons in categories like apparel, electronics, airlines, baby products, footwear, mobile recharge, etc. While the home page offers popular coupons, one can also search for coupons by brand name, or filter them according to category, brand, store, etc. Once the user is on the page of a particular store, the site also gives suggestions for similar stores.
In terms of competition, a number of players—including Couponraja.com, Rocket-Internet backed CupoNation and Coupondunia—offer couponing. Another cash-back and couponing venture Cashkaro had also raised $750,000 (Rs 4.5 crore) from a group of 10-12 independent UK-based angel investors earlier this year.
(Edited by Joby Puthuparampil Johnson)