Flipkart enters league of corporate VCs backing startups; invests in loyalty programme platform

Walmart-owned Flipkart, which launched early-stage startup fund in March this year, has invested in loyalty programme marketplace EasyRewardz in its series B funding, according to a company statement. The company will invest the capital raised in developing new products and growing globally. EasyRewardz claimed growing its customer base and revenue by more than double since November 2017 when it raised its Series A round. The company, however, didn’t disclose the related figures.EasyRewardz allows customers track, enrol, pool, and redeem loyalty points across programmes. Its other investors include Trans-Continental Venture Fund, Venture Catalysts and angel investors such as Jitendra Gupta, Amrish Rau, Satyen Kothari, etc.