The company also mentioned that they follow out-of-the-box marketing strategies to stay at the top.
Coupons and deals portal Cuponmachine.in has raised $140K in funding through UK based investors. The company has extensive expansion plans to achieve its growth objectives.
Speaking about this development, Adbul Sattar, CEO, Couponmachine, said, "Angel Investors from UK have invested $140K in our business. They have seen immense potential in our fast growing online coupons business. This investment is done against a stake of 11.5 per cent in the company shares offered by Couponmachine."
Elaborating further, Sattar said, "It is a solo investor and this is the first time that another company or investor from outside the nation has shown interest in this type of business. This investment and share of the company has been made for an undisclosed amount of time."
Started by a group of young entrepreneurs, Cuponmachine is based in Vizag, Andhra Pradesh. It helps people get maximum amount of benefit through online shopping from various shopping websites like Myntra, Flipkart, Jabong, Amazon, Shopnineteen and many more.
The company also mentioned that they follow out-of-the-box marketing strategies to stay at the top of the competitive market. In addition, the site updates deals every day and coupons every hour to provide the best in discount offers to the customers.
The investment money would be used for the purpose of expansion and marketing. According to a company spokesperson, "We are going to use the same funds for improving the present rate of site and make it a productive option for all. Customers are likely to use the coupons, in order to avail shopping in various online stores and planning to buy apparel, food, furniture, booking shows, hotels or tickets, cosmetics, books, electronic goods, shoes, gifts and more."