After a re-branding initiative and TV campaigns over the last month, personal assistant app Tapzo claims to have reached 1 lakh transactions on its platform on January 22.
The platform-which aggregates orders across food delivery, hyperlocal deals, cabs and bill payments, and recharge -said it will process transactions of Rs 450 crore in annual GMV for FY 2016-17 on reaching this number.
The number of daily users on the platform has grown from 65,000 in December to 1 lakh in January, riding over aggressive marketing efforts by the company.
The company will be launching other verticals over the coming months to diversify business. It recently announced the launch of food order aggregation on the platform through tie-ups with Swiggy, Zomato, Freshmenu and Faaso’s.
“We will get into bus and flight ticketing as well as grocery over the coming months. We have not started monetising our content platform yet but that can be an additional source of revenues for us,“ said Ankur Singla, who founded the company in 2010 as a complaint redressal platform Akosha and later pivoted to a personal assistant model, HelpChat in July 2015. Tapzo is its second major pivot.
Based on the growth in daily transactions, the company has revised its target to Rs 2,000-crore GMV for FY 2017-18. According to Singla, the average user transacts, on the app, 15 to 20 times a month.
The all-in one app feature combines over 35 popular apps across verticals into a single app, saving mobile real estate and data costs used for updating apps. It places the order to partner businesses and charges a commission on each transaction processed on the Tapzo app.
The average ticket size for each transaction across verticals is Rs 150 and the commissions vary by category, with food orders and deal discovery contributing the largest share.
Coraza Technologies, which owns Tapzo and OneDirect, raised Rs 70 crore in a Series-C round from American Express Ventures in September and Rs 100 crore from Sequoia and Ru-Net in 2015.
Tapzo app currently has 3.5 million installs and competes with Unilazer-backed Niki.ai and Hike in this space.
Source: ET Tech
