PepperTap Acquires Jiffstore, Also Raises Series B funding
Peppertap, Gurgaon based hyperlocal service startup has taken over Bangalore based hyperlocal grocery delivery startup, Jiffstore for an undisclosed amount. Jiffstore’s team will join PepperTap’s Gurgaon and Bengaluru offices. Peppertap aims to use synergies with Jiffstore to build an excellent customer experience.
PepperTap also closed its Series B round of funding; with an additional $4 millon from Innoven Capital, in addition to the $36 million raised recently from SnapDeal, Sequoia India, SAIF Partners, Ru-Net, Beenext & JAFCO Asia. Total fund raise in PepperTap now stands at around $51.2 million.
PepperTap earns more than 90% of its revenue from the commissions it earns from shops. The rest comes from the delivery cost. It charges consumers for orders below a minimum deliver...