A shopping platform built on instant messaging app WhatsApp, called, Chattybao, has secured more than $5 million in funding. Vertex Ventures Southeast Asia & India and Info Edge Ventures led the seed round of funding.
VertexVentures Southeast Asia & India and Info Edge Ventures led a $5 million seed funding round for Chattybao, a commerce platform built on the instant messaging programme WhatsApp. 7Square Ventures and more angel investors joined the round as well.
Varun Gupta, a former director at B CapitalGroup, and Kumar Aditya, a former chief business officer of Paytm, launched Chattybao.
It gives consumers a shopping experience through WhatsApp by connecting them with nearby merchants.
Users won’t need to download several applications in order to find, communicate with, order from, and get home delivery from local merchants.
According to the corporation, this will improve offline retailers’ ability to compete with other online companies. According to Aditya, cofounder of Chattybao, “the entrepreneurial spirit of tiny enterprises in India has traditionally helped them thrive and withstand competition from larger competitors. Chattybao will greatly improve their consumers’ e-commerce experiences, allowing them to more successfully compete with online players.”
According to Kanika Mayar, partner at Vertex Ventures Southeast Asia and India, “Small businesses and service providers form the foundation of the retail economy in India.”