MagicPin Parent Secures $20 million Led by Lightspeed US
The owner and operator of discovery and rewards platform MagicPin known as Samast Technologies has secured funds amounting to $20 million (Rs 141 crore) in a funding round led by Lightspeed Venture Partners US.
With this funding round, the valuation of the company has reached an estimated $100 million. The total funding of the three-year-old venture with this round has become about $30 million in equity financing.
“The round was led by Lightspeed US, with partners Jeremy Liew and Ravi Mhatre, who have now come on board… We’re now possibly the largest platform driving business to offline retailers and brands in the country,” Anshoo Sharma, chief executive officer of MagicPin stated.
The company was founded in 2015 by Sharma and Brij Bhushan. The two founders were at Lightspeed India an...