“Hyperlocal Marketing to Commerce” company based in India single interface Raised $40 million in new funding.
of funding round guided by asia partnerWith the participation of paypal venturesaccording to a Thursday (April 4) press release.
Founded by Entrepreneurs Tarun Sobhani and Harish Bahlthe company is working with brands in India, Southeast Asia and the Middle East to help them manage their physical stores' digital presence, the release said.
“With more than 400 million local businesses worldwide, SingleInterface has tremendous untapped potential in the global market,” Bahl said in the release. “With this funding, we are poised to explore new markets and further solidify our position as a global leader in enabling marketing and commerce capabilities for multi-location enterprise brands through our product suite. .”
The company plans to use the new funding to strengthen its hyperlocal marketing, engagement and commerce products, particularly “advanced audience segmentation and personalized re-engagement,” according to the release.
“Expectations are personalization has become the norm,” PYMNTS wrote earlier this year. “This shift in consumer behavior means certain merchants need to enhance their capabilities to effectively meet the unique needs of individual customers.”
PYMNTS Intelligence found that customizing offers based on consumers' needs and interests can make them twice as likely to switch sellers. Personalized offers, especially for offers, can cause consumers to deviate from their daily routines and pay attention to new sellers.
According to the survey, 24% of people think: personalization Very important when checking offers. For consumers who feel that stores are not adjusting their offers properly, this figure rises to 36%. So, to reach all types of potential customers, it's important to make sure the data that helps drive personalized offers is on target.
PayPal Venture's support of SingleInterface follows several other recent investments.Last month, the company participated in a $47 million funding round. funding round For Malaysia based locations quora This is to support the expansion of embedded insurance business across Southeast Asia.
Also in March, PayPal Ventures participated in a $24 million funding round. Series B round for NX Technologies To help the company expand its digital payment management platform for the automotive industry.
