Sunday, May 26

Fashion & Lifestyle Coupon Platform Shopholix Raises Pre-Series A Funding

Gurugram-based online retail coupon platform for brick and mortar lifestyle and fashion stores has recently raised a pre-series A funding of Rs 1.5 crore (around $233K) led by former corporate finance head of PricewaterhouseCoopers Pvt Ltd, Munesh Khanna.

The development will be used to expand its geographical presence and product development, it said in a media statement.

“Shopholix has grown by leveraging digital tools and technologies for offline retailers. Moreover, by tapping into a largely unexplored segment like offline retail with its focused digital marketing solutions, the startup is well on its way to becoming a market leader in the segment,” Khanna said in the press note.

Munesh Khanna had resigned from PwC in September to start his own venture.

Founded back in 2015, Shopholix connects users with brick and mortar fashion and lifestyle retail stores through its application. It provides customer discount coupons which a shopper can redeem at outlets registered with Shopholix.

The platform is used to know about pricing, store description, reviews, ratings and other shopping questions. With the investment in hand, Shopholix is planning to mark its presence in Indian metros and overseas markets of Dubai, Bangkok, Abu Dhabi, Singapore and Hong Kong.

The company hopes to turn profitable by 2022.