Little, an India-based marketplace for third-party consumer deals, has raised $50m in a series A round led by payments processing service Paytm, The Hindu Business Line reported yesterday.
Fund manager Tiger Global Management and venture capital fund SAIF Partners also took part in the round. In addition to receiving funding from Paytm, Little will also power the company’s deals platform.
Little runs a localised marketplace, available exclusively through a dedicated app, that enables consumers to browse third-party deals from merchants such as cinemas, spas and restaurants.
The app currently offers deals from some 5,000 merchants across 11 Indian cities. The series A funding will be used to increase staff levels from a current 400 to 1,000 and scale the platform to 50,000 merchants by March 2016.
Little’s founders are Manish Chopra and Satish Mani, also the founders of fashion e-commerce company Zovi, and will continue to be involved with running that company. Tiger and SAIF are also investors in Zovi.