Lets Fund Your Dreams - hyperlocal discovery marketplace offering cashback and offers to the customers
Lfyd is a hyperlocal discovery marketplace started in a small city in Jharkhand. Currently is spread out in 10 different cities of 4 different states with its objectives to help small and middle-level businesses compete with other big players in the market. Lfyd is a new app that helps local shopkeepers get more sales and customers. Lfyd works on the freemium model, where most of the things for the merchants are free. The app also offers cashback and vouchers to its partner shops when customers purchase anything.
Many times it happens that shops face difficulty to attract the customers and there are different issues at different time, sometimes they are newly opened or are in the far reach of Market and metro cities or it may also be that the shop is unable to compete with other shops that offer same products but at a better price. This is the problem that Lfyd is trying to solve a hyperlocal discovery marketplace started from a small city in Jharkhand, currently is spread out in 10 different cities of 4 different states with its objectives to help the small and middle-level businesses to reach and compete with other big players in the market.
So basically Lfyd provides a platform for different shop owners to provide information about their products to its customers within their city so in simple words a shop owner whether new or old can inform their customers about any kind of deals or discounts in their products. It also helps shopowners to provide information about upcoming sales that they want to organize in their shop and a lot of other features al within one app for different categories of businesses, it has different features which help them to stay ahead of their competition for example for retail marts provides their customers information about new products that have just hit the shelves, similarly, for restaurants, it provides their customers information on any kind of new deals and discounts that the restaurant wants to offer not just the small and medium shops now big brand outlets and other brands in malls are using our app to promote and provide information to its shopkeepers about different upcoming sales and offers that thes3 brands provides occasionally on their outlets.
One another area where Lfyd helps is for the local manufacturers or small businesses many times they also face difficulty in promoting and branding while launching their products as they don't have the appropriate market strategy or due to a lack of knowledge. Also, most small-scale businesses don't have any platform yet to promote them to compete with large-scale industries.
Lfyd is hyperlocal e-commerce that is helping people from all over the nation to expand their business with few easy steps.
And not just expansion, Lfyd also help businessmen in setting up their new businesses by giving them perfect tools for it. As a part of future strategy, this startup will provide future security in terms of life insurance and accidental insurance, and many more. They will also make it easier for all the merchants to avail loans at a very low rate of interest. lfyd will help its merchants channel their partners through online mediums and get more customers to increase their profit margin.
Lfyd works on the freemium model. Where most of the things for the merchants are free they have a special channel partner plan where they help these merchants in increasing their customers by providing exclusive rewards in form of cashback and vouchers to customers when they purchase anything or use any services from these channel partners shops
For any sales that happen in these partner-shops using the lfyd app, they charge a commission from our merchants, the commission percentage is fixed according to categories of shops and also depends on a few other factors such as the location of the shop, brand value, average daily customers.
Similarly, people want information regarding on-going sales, deals, Events, discounts from various shops & malls in the city. But, they still rely on newspapers & Billboards most of the time. People in cities, especially newcomers face problems while exploring the local market for any product or service because they are not fully aware of trends in the market. They are also not aware of regarding closing and opening of their shops and sometimes feel disappointed.
We at lfyd are working towards the problem
Lfyd provides local shopkeepers with a platform irrespective of their status and town and provides them with the basic details regarding the ongoing marketing strategy. The local manufacturers get the best place to Advertise & market their products at a very nominal fee.
Also, customers want exclusive discounts, deals, rewards, and cashback on their purchase and that's what drives them to market. Taking this into consideration, we will advertise your shop in such a way that it reaches the maximum audience and therefore increasing sales and profits.
Lfyd will let the people know about the festive and seasonal sales from nearby malls, various deals and discounts, public events, and functions around their cities along with tons of other features to help them explore their city in a better way and simplifying their market mania at the same time help businesses in getting more sales & customers. With the Lfyd app, people can get information about different products & services available in their city.
Founded by Satyajeet Patnayak and Dharam Chand Patnaik, from Chaibasa in Jharkhand Lfyd is providing shoppers a convenient way to get more information about the deals and discounts before going to market. Lfyd’s current CEO, Satyajeet Patnayak is a passout from the College of Engineering and Technology from which is a government of Odisha college situated in Bhubaneswar. He has already co-founded an electric mobility startup while at college and his initial experience in startups all came from there.
Currently having more than 40 thousand customers and more than 3000 channel partners with us registered from 10 cities in 4 different states which have made more than 7 lakh transactions in the last 6 months. We have got a GMV of 2.5 crores through which we have generated a revenue of 16 lakhs. Our average monthly user growth rate is 75%. Our average visitor uses our app 43 times a month. We are growing at a rate of 78% every month.
So what are you waiting for, come let's join us and give your business wings and have a happy shopping?