Company Name : Pennyful
Description : One of India’s first cashback and discount coupons website
Company Overview : Formed in 2011, Pennyful.in is one of the first players in the Indian cashback and discount coupons market and is the brainchild of Ravitej Yadalam.
Ravitej originally tested the concept of a cashback and discount coupons website in the U.S. market with Pennyful.com, and based on the positive feedback he received, along with the emerging popularity of e-commerce in India, he took the concept to the Indian market with Pennyful.in. Today, Pennyful.in has partnerships with over 250 of the most popular e-commerce merchants like Myntra, Jabong, Yebhi, Tradus, Paytm, Homeshop18 and Flipkart among others. It also has a referral program where one can make some cash by referring friends. What sets Pennyful.in apart from most other players is that a user can request to withdraw their cashback at any time i.e. no minimum payout requirements.
Some quick tidbits on Pennyful:
The company plans to break even by the end of 2014
Pennyful has also seen an 150% increase in its customer base vis-a-vis last year, and expects to see an increase of 200%+ in the customer base by 2015
After seeing success in the online space with Pennyful, Ravitej decided that it was time to take the online cashback model offline, and into a very niche segment, Healthcare. This is when MediRupee.com (formerly known as MediCash.in) was formed. Launched in 2013, MediRupee.com is India’s first and only FREE Healthcare Rewards Program. MediRupee aims to help people save on their healthcare expenditure by providing them with a rebate on their healthcare expenses. The service is especially helpful for patients who are not covered by any insurance policy. The company currently has partnerships with over 150 of the top healthcare institutions such as Fortis and Apollo, to name a few.
Homepage URL: http://pennyful.in
Industry : Retail
Number of Employees : 15
Location : Bangalore
Key People : Ravitej Yadalam