Backed by Tiger Global Management and Lightspeed Venture Partners, LocalOye, a provider of local services is going to introduce cashless payment as an option by end of this month. It had already experimented with this model in cities like Bengaluru and Mumbai and the overwhelming response has prompted the startup to launch it officially across all the cites that it is present in, the company said.
“We have already partnered with Paytm and Razorpay for online payment gateway integration and are in the process of partnering with Mobikwik. We will be launching our own wallet by first week of September to provide our customers with a seamless cashless payment experience through our app,” Aditya Rao, CEO of LocalOye told FE. Apart from opening its own website platform, LocalOye is also going to launch its iOS app soon.
This Mumbai based startup which was founded by Aditya Rao and Anupam Tiulsiyan in 2013, has grown from 200 to 2500 customers per day ever since the startup shifted its headquarters from Mumbai to Bengaluru. Aditya claims that 35% of their customers are coming from Bengaluru. Recently it expanded to the Gurgaon market and will soon enter Delhi. “We don’t want to expand to more cities after this, instead we will be focusing on expanding to more categories in these cities. Right now we are present in 25-30 categories in each city, we will be expanding to 100 categories post that,” adds Aditya.
Currently, Localoye has 5500 merchants on board and according to Aditya his biggest challenge remains to provide his customers with quality services. “ Localoye follows a very stringent verification process which includes a test to check the quality and credibility of the service providers, we are also working extensively towards making our recommendation engine much faster from the technology side as it is the medium which connects our customers to the merchants with proper relevancy,” said Aditya.