BigDeal, an exclusive student deals platform, has raised an undisclosed amount in their Pre Series-A of funding from
EVC Ventures. The round is led by Anjli Jain, Managing Partner, EVC Ventures.
Aashish Singh, Founder & CEO, BigDeal and a recent graduate from Birla Institute of Technology said “As a student it was always difficult to find deals online or offline relevant to our pockets. We as students have limited spending power; however, no platform curates discounts & deals exclusively for students.”
Aashish wanted to solve this pain point and founded BigDeal as a platform to help connect students & merchants.
BigDeal’s tech, handled by Damanpreet Singh, alumni of Indraprastha University, was upgraded with the I-MADE Platform and is now the exclusive student discount platform for 35,000 institutions in India and will help 20 million students save more money. It is present throughout the student ecosystem including deals, coupons, online food delivery, takeaway, dine-in, recharges, online shopping and commuting.
Connecting Merchants with Target AudienceBigDeal is currently live in more than 25 colleges in India and The US and has deals from more than 500 merchants, and aims to generate 1,000 transactions per day with 80% repeat user, within next 4 months.
BigDeal app aims to be both a discovery platform for students looking for discounts and a significant sales channel for merchants looking to tap 16-25 demography, enabling retailers to operate a single cohesive student program. Merchants can maintain the supply of real-time deals to students across sectors like, food & beverage, travel, mobile recharges and e-commerce with a hassle free, just in time platform for merchants to market their services.
“We will use this funding to expand the team, further enhance our technology and customer & merchant acquisition. We are aiming for a 10x growth in customers in a span of next 4-5 months and increase transactions per customer by 2.5 to 3 times a day.” said Aashish.
Anjli Jain comments on EVC’s investment in BigDeal, "We look for passionate founders who believe in achieving profitability and growth simultaneously. BigDeal is targeting one of the most sought after market segments, college students; And with its partnership with I-MADE, it is positioned strategically to be leader in the space.”
EVC is a $50 million fund focused exclusively on early stage investments in Ad Tech, E-Commerce, Gaming, Education, Mobile Apps, Enterprise Software, Wearables and Internet of Things (IoT). EVC also operates EVC Accelerators in the United States and India where it provides capital and mentorship to help entrepreneurs turn ideas into unicorns.
