NumberMall buys analytics-based marketing solution BankSmarts
S S Analytics provides an analytics-based marketing solution, BankSmarts Solutions. The acquisition will help NumberMall to extend its analytics capability, customer reach and merchant offers, it said in a statement without disclosing any financial details.
Started in 2012 by Kiran Gali, NumberMall is a merchant-managed platform that aggregates all services in one wallet. Users can recharge their mobile phones, direct-to-home TV and data cards, in addition to purchasing bus tickets, on the platform.
NumberMall also allows merchants to make targeted hyper-local offers to customers in their nearby areas instead of spending money on newspaper ads or distributing flyers.
The firm claims to have serviced about 30 million customers on its platform through 16,000 touch points.
"The assisted e-commerce space is addressing a very large opportunity, and NumberMall is one of the leaders in the space," BankSmarts founder and CEO Subinder Khurana said. "We believe that analytics will play an increasingly larger role in creating value for the customers and position the company even better to dominate the space," he added.
Earlier this year, NumberMall had raised an undisclosed amount in equity funding from SRI Capital, an early-stage VC fund run by angel investor Sashi Reddi.
The company had also said that it was looking to raise $10 million in a Series A round of funding next year for pan-India expansion.