Yup! aims to raise up to $10 million (about Rs 62 crore) by March-end this year as the apps and content aggregator plans to invest in brand building and capacity expansion.
Founded in September last year, Yup! had raised a seed fund of $500,000 (around Rs 3 crore) from investors Arun Khanna and Harsh Khanna.
"We are talking to a couple of investors and expect to raise up to $10 million by March-end," Yup! Co-founder and Chief Technical Officer Yogesh Huja said. Audit and advisory firm Grant Thornton is handling the fund raising, he added. On the reason behind the fund raising, Yup! Co-founder Tushar Malhotra said: “We want to expand our capabilities and also invest in marketing and brand building activities.” The start up has also tied up with eCommerce giant Amazon which allows its users to avail of additional discounts through special coupon codes.
“We want Yup! to be the go to app for accessing everything in one touch, from internet to entertainment and social media so that smartphone users don't have to download multiple apps for availing different services,” Malhotra said. Available exclusively for registered Yup! users, the offer deals at up to 30 per cent over and above the existing discounts, he added. The users, after downloading and registering on Yup! can access the shopping and deals section on Yup! World, Huja said.