Hyundai Verna
Startups

Startup of the of the month – CROWNIT

STARTUP OF THE MONTH - CROWN IT

Crownit at a glance

  • Type of site: E-commerce
  • Founded: March 2014
  • Headquarters: Gurgaon, Indi
  • Area served: New Delhi, Mumbai, Bengaluru
  • Founder(s): Sameer Grover, Ashish Munjal
  • Industry: Internet
  • Website: www.crownit.in

About Crownit

Crownit is an app-only merchant discovery and privileges platform, incepted in July 2014. It is one of India’s leading O2O platform, connecting consumers with local merchants. Crownit has seen widespread growth across four cities including Delhi, Mumbai and Bengaluru. It offers its users cashback at local merchants and customers can redeem their crowns (Cashback) by shopping online, book movie tickets, pay their bills and many more. Each time a customer makes a purchase at one of the local stores, s/ he clicks a picture of the bill and sends it to the company to earn crowns. These crowns can be redeemed while shopping at ecommerce stores, booking movie tickets, ordering flowers online or even donating to a charity.

The retail program helps attract customers for outlet partners by marketing them through the app. Crownit has over 10,00,000 users and has over 15,000 merchants listed on the O2O platform. Crownit targets to have 20 million users and drive $1.2Bn of annual GMV across 25 cities in India by 2018.

Background/ Inception of Crownit

Sameer Grover, Founder and CEO of Crownit is a Delhi College of Engineering graduate, has had extensive experience creating and marketing software products for large enterprises as well as small and medium businesses both in India and the US. Since 2005, he has worked in India with startups like Apollo Health Street, MphRx, and Knowlarity.

The idea of Crownit was born in a café in Delhi in early 2014 while Sameer was sipping coffee with a friend. Crownit’s name originates from childhood game of collecting crowns of cola bottles to get free gifts. Crown-it app lets customers collect crowns from local businesses in the form of cashback. And they use the cashback to redeem for goodies like online shopping, movie tickets and talktime.

How does the app work?

All the users have to do is download the app, visit one of the listed restaurants on Crownit’s app around you. When you pay, upload a pic of the bill and get cashback points (crowns) against your bill amount. These crowns can be redeemed while shopping at ecommerce stores like as Flipkart, Jabong, Myntra, booking movie tickets, online recharge, ordering flowers online or even donating to a charity.

And, what kind of cashback offers can users avail?

Users can avail upto 30% cashback on these restaurant check-ins. All that is required to do is to take a picture of the bill you receive at the outlet after availing their services and upload it on the crownit app itself. Once the bill is approved, the user gets crowns in their crownit rewards section and also tickets to play the weekly rush.

Crownit offers you cashback on almost all restaurants in Delhi, Mumbai & Bengaluru. They also offer some fabulous deals on saloon & spa services.

Funding

Crownit had raised $5.5 million in Series-A funding from Accel Partners and Helion Venture Partners in May 2015. Crownit recently also raised an undisclosed amount of funding from Kunal Shah and Sandeep Tandon (founders, Freecharge), Girish Mathrubootham (founder, Freshdesk) and Anand Chandrasekaran (former chief product officer, Snapdeal) in August this year.

More on this, from the CEO and co-founder Mr. Sameer Grover:

Exhibit: Hello Sameer, tell us about the exclusivity of Crownit.
Sameer:  Crownit is India’s leading cashback and rewards app for local shopping. Crownit brings gamification and personalisation to local shopping. Our motto has always been to Make Shopping Fun. And we are achieving that.Crownit is born on three strong pillars: India becoming a mobile-first society + Indian citizens present in social media more and more + Indians are doing more mobile/digital payments. This was only possible in last 2-3 years – never before.

Exhibit: Keeping cashless-India concept in mind, justify how it is the perfect time for the idea of Crownit to bloom and rise high.
SG: One of Crownit’s core pillars is mobile and digital payments – which is now getting a big boost. More and more customers are paying for local purchases via digital and mobile methods. This has given Crownit usage a boost too. We have introduced new products in past 60 days keeping same in mind: Crownit Meal Voucher (for Corporates), Crownit Pay at Restaurants (with real time merchant settlement) and Crownit Credit Card. Our gamification and personalisation enhances the customer experience when doing mobile payments – this in turn becomes a habit.

Exhibit: How did the concept of Crownit take shape? How were the initial funding days?
SGThe idea of Crownit was born in a café in Delhi in early 2014 while I was sipping coffee with a friend. Crownit’s name originates from childhood game of collecting crowns of cola bottles to get free gifts. Crownit never had challenge raising funds – because the team has always shown the passion behind the vision: Making Shopping Fun. And with our strong product and gamification philosophy, we have always won over investors.

Exhibit: What all sectors do Crownit cover? How does it work?
SG: The company initially started with covering Food and Beverage sector, eventually leading itself into varied categories like health & fitness, beauty & wellness and weekend getaways, fashion & retail and e-commerce.

All the users have to do is download the app, visit one of the listed restaurants on Crownit’s app around you. When you pay, upload a pic of the bill and get cashback points (crowns) against your bill amount. These crowns can be redeemed while shopping at ecommerce stores like as Flipkart, Jabong, Myntra, booking movie tickets, online recharge, ordering flowers online or even donating to a charity.

Users can avail upto 30% cashback on these restaurant check-ins. All that is required to do is to take a picture of the bill you receive at the outlet after availing their services and upload it on the Crownit app itself. Once the bill is approved, the user gets crowns in their Crownit rewards section and also tickets to play the weekly rush.Crownit offers you cashback on almost all restaurants in Delhi, Mumbai & Bengaluru. We also offer some fabulous deals on saloon & spa services. We now also sell food combos on popular restaurants across India.

Exhibit: Crownit in numbers – current scenario. Where do you foresee the same in 5 years?
SGCurrently we have over a million consumers across 4 cities and we drive over ₹ 36Cr monthly business to 15000 merchants. We will be in 25 cities by 2020 and will drive $1Bn business to over 50,000 local merchants.

Exhibit: Which all cities does Crownit cover? Any future plans to further expand to more places?
SGCrownit is currently available in Delhi NCR, Mumbai and Bengaluru. We plan to expand to 17 cities in next 24 months.

Exhibit: One exclusive sector that only Crownit works and no other contemporary services.
SG: Crownit approached the market with a fresh approach of gamification and personalisation – not that we approached a fresh market. As I mentioned earlier – the Indian society has become ready for Crownit because of three core drives: Mobiles, Social Media and Digital Payments – which happened only in last 2-3 years. No other competition utilises these the way we do.

Exhibit: Give us reasons why people should install and use Crownit.
SG: Three reasons:

  1. You are missing out on amazing rewards and cash back on your daily spends;
  2. Your friends are winning every week and they are waiting for you on Crownit;
  3. We have all the best places covered in restaurants, salons, movies, shopping – why go anywhere else!

Exhibit: What expectations do you have from 2017, as far as Crownit and e-payments are concerned.
SG2016 shows us that Indian consumer has embraced cashbacks & rewards and merchants have adopted this as a strong tool to build consumer loyalty and repeat business. 2017 is going to see a huge rise in digital payments and cash back. Rewards are going to play a crucial role in shaping up consumer behavior.

Crownit is India’s leading cashback and rewards app for local shopping. Crownit brings gamification and personalisation to local shopping. Our motto has always been to Make Shopping Fun. And we are achieving that. 

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

1 × 2 =

Most Popular

To Top