With an eye on Student Spending

In its Pre-Series A round of funding, student deal startup, BigDeal, has raised around $100,000 from EVC Ventures. Anil Jain, Managing Partner associated with EVC, led the round. The Delhi-based startup is now looking at expanding their operations.

So What’s The BigDeal?

In 2015, Aashish Singh and Aditya Jindal came together and founded DealMonk, which is now known as BigDeal. Under its previous name, the platform was all about offering deals based on user’s location. Aashish Singh took a leaf out of his experience as a student. Since it’s difficult for students to find deals that fit their pocket, he decided to revamp the platform. Hence, BigDeal came about providing exclusive and affordable coupon deals to students under various categories like food and beverages, mobile recharge, travel and more. Also, BigDeal makes it easier for the merchants to offer real-time exclusive deals to the students.

Here After

The funds will be put to use to expand the operations of the startup, build a larger team and upgrade technology. Across India and the U.S., the startup has ties with 25 colleges. It also has over 500 merchants associated with it. Now with the new funding, BigDeal wants to target 1,000 transactions per day while coming to retain 80% user retention rate in the next four months. That’s an impressive target. BigDeal is also looking at a 10 times growth in its customer base with three-times more customer spending.

What are your thoughts about such a service? Share your thoughts in the comments section below.

Takeaways:

• In its Pre-Series A round of funding, student deal startup, BigDeal, has raised around $100,000 from EVC Ventures.
• BigDeal came about providing exclusive and affordable deals to students under various categories like food and beverages, mobile recharge, travel and more.
• BigDeal wants to target 1,000 transactions per day while coming to retain 80% user retention rate in the next four months.
• Across India and the U.S., the startup has ties with 25 colleges and also has over 500 merchants associated with it.

Subscribe with us to get your dose of interesting news, research & opinions in the startup segment. Fill the form below:

[email-subscribers namefield=”YES” desc=”” group=”Public”]