iWorld
Explurger secures $ 4.5 million in series-A funding led by Affle
Mumbai: Social media platform Explurger has announced that it has raised an investment of $ 4.5 million (Rs 37.3 Cr) in a series-A funding led by Affle (India) Limited (“Affle”) at a pre-money valuation of about $ 40 million (Rs 338 Cr). With this investment, Affle (India) Limited will hold a 9.03 per cent stake (on a fully diluted basis) of Explurger, which has already shown a robust potential and interest from global investors.
Launched in 2021 in India, Explurger has already garnered more than 8.5 million users across 75+ countries. Pioneering the field as the only “Gamified” AI-powered vertical consumer-tech social media platform for travelers, Explurger is listed by Google as one of ‘10 Most Innovative Apps Making Mark in India and Beyond’. With an AI-centered social media format, the app differentiates itself with features such as Automatic Travelogue, Rewards and Bucket List to cater to the distinctive needs of travelers and explorers. The company expects to target the growing social media users in India and the world, amidst a renewed interest in the travel segment in the post-pandemic world.
The travel and tourism industry continues to be on the rise, with a projected contribution of about 8.4% to the Global GDP in 2023 (WTTC) and projected contribution of about 5.4% to India’s GDP in 2023 (WTTC) with an estimated 124% increase for the following decade, it is clear that the niche premise of the app signals brighter horizons.
Speaking about the investment, Explurger founder & CEO Jitin Bhatia, said, “We’re thrilled to welcome Affle on our cap table as part of Series-A funding round. Affle is already a leading name known for their tech innovations and R&D, and with them as an investor, it validates our vision to build a social media platform of the future that goes beyond likes and shares, and truly builds a global connected community using the advancements of AI. We look forward to the next phase of our growth story and are grateful for the confidence shown in us by the team at Affle.”
eNews
Paisabazaar launches Credit Premier League 2.0
Nationwide campaign rewards highest credit scores with Rs 1 lakh top prize.
MUMBAI: When credit scores become a national league, even your CIBIL report starts feeling like it’s playing in the IPL and Paisabazaar has just kicked off the second season. Paisabazaar, India’s leading marketplace for financial products and the country’s largest free credit score platform, has announced the return of the Credit Premier League (CPL) 2.0, a fun, nationwide initiative to recognise and reward individuals with the highest credit scores.
Building on the success of the first edition, CPL 2.0 introduces higher rewards and broader participation. The individual(s) with the highest credit score in the country will win Rs 1 lakh, while state champions will each receive Rs 10,000. Additionally, all participants from the winning state, the one with the highest average credit score will also be rewarded.
All winnings will be credited directly to winners’ PB Wallet, allowing them to pay credit card bills, recharge mobiles, or settle utility bills seamlessly on the Paisabazaar platform.
Paisabazaar CEO Santosh Agarwal said the campaign aims to make credit awareness more engaging and mainstream. “With CPL, we are bringing together engagement, gamification and rewards to make conversations around credit scores more mainstream,” he noted. “Our focus remains on building a financially aware and credit-healthy Bharat.”
The first edition of CPL saw over 5.5 million participants, with the highest individual score touching 861. Delhi recorded the highest average credit score of 746.
Consumers can participate simply by checking their free credit score on the Paisabazaar platform or app. The CPL leaderboard and rankings will be available exclusively on the Paisabazaar App.
In a country where financial dreams are serious business, Paisabazaar has found a smart way to turn credit scores into an exciting game – because when your financial health gets rewarded, everyone wants to play.
