Lfyd
| File:Fydo Logo.jpg Fydo | |
| Type of business | Private Limited Company |
|---|---|
Type of site | Hyperlocal discovery marketplace |
| Founded | 2020-10-29 |
| Founder(s) | Satyajeet Patnayak Dharam Chand Patnaik Sinchan Mishra |
| CEO | Satyajeet Patnayak |
| Industry | Hyperlocal |
| Services | Best deals, discounts, nearby events |
| Website | www |
| Current status | Active |
Fydo (Previously Lfyd) is a hyper-local discovery startup based out of India. It allows customers to get information about deals, offers, sales and cash back from nearby malls and shopping outlets and at the same time helps businesses in getting more sales & customers.[1]
The startup was incorporated in October 2020 as "Lfyd Services Private Limited", founded by Satyajeet Patnayak and Dharam Chand Patnaik, with its main goal to help people get better deals and discounts at various shops from their city and also to get information about nearby events happening around their city.[2][3][4]
Background
As per Allied Market Research, the Hyperlocal industry is expected to generate $3,634.3 billion by 2027, growing at a CAGR of 17.9% from 2021 to 2027.[5] In India the industry has already started seeing a boom and with each passing day there are a number of startups that are coming out from this sector. There are a number of well-funded startups working in this sector.[6][7]
History
The name Fydo is the short form of "Find your Deals & Offers". Fydo was initially named Lfyd and founded as a Business Development Company for providing loans to people who want to start their business and hence the name "fund your dreams". They pivoted into the hyperlocal sector looking at the amount of potential in that field and since then Fydo has become a key market player in the hyperlocal segment and has operations in more than 10 cities in 4 different states.[8]
The startup is incubated under NASSCOM Startups since December 2020 and also it is a part of India Accelerators Summer Cohort.[9] It crossed 2 crore in Gross Value of Merchandise.[10] It was one among the Top 100 Startups in South Asia at the Innopreneurs Contest[11] and was 70 among 101 Best Business development startups of 2020.[12]
Funding
Fydo has raised its first Pre seed funding from Karekeba Ventures[13], India Accelerators[14], Jharkhand Angels[15] and Flying India Ventures.[16]
See also
References
- ↑ "Lfyd - Crunchbase Company Profile & Funding". Crunchbase. Retrieved 2021-04-02.
- ↑ "LFYD SERVICES PRIVATE LIMITED - Company, directors and contact details | Zauba Corp". www.zaubacorp.com. Retrieved 2021-04-02.
- ↑ "List of 6 Lfyd Employees - Find Emails & Phones - SignalHire". www.signalhire.com. Retrieved 2021-04-02.
- ↑ Khabar, Prabhat. "24 year Old Boy Starts his own Startup Lfyd. 3Cr turnover in 6 months". Prabhat Khabar. Unknown parameter
|url-status=ignored (help) - ↑ Research, Allied Market. "Hyperlocal Service Market to Garner $3,634.3 Bn, Globally, by 2027 at 17.9% CAGR, Says Allied Market Research". www.prnewswire.com. Retrieved 2021-04-02.
- ↑ "How 'hyperlocal' is emerging as the new business model". The Financial Express. 2020-08-09. Retrieved 2021-04-02.
- ↑ "Era of Hyperlocal In India: What Is A Hyperlocal Delivery Startup?". Inc42 Media. 2019-10-09. Retrieved 2021-04-02.
- ↑ Codingest. "Lets Fund Your Dreams - hyperlocal discovery marketplace offering cashback and offers to the customers". INC91. Retrieved 2021-07-30.
- ↑ ANI (2020-01-24). "India Accelerator begins with Winter Cohort". Business Standard India. Retrieved 2021-04-02.
- ↑ "Fydo - Best Deals & Offers Nearby". www.fydo.in. Retrieved 2021-06-13. Unknown parameter
|url-status=ignored (help) - ↑ "Midday". www.mid-day.com. Retrieved 2021-05-14.
- ↑ "101 Best Business Development Firms Of 2020". The Startup Pill. 2020-11-27. Retrieved 2021-04-02.
- ↑ "Karekeba Ventures". Unknown parameter
|url-status=ignored (help) - ↑ "indiaaccelerator". Unknown parameter
|url-status=ignored (help) - ↑ "Jharkhand Angels". Unknown parameter
|url-status=ignored (help) - ↑ "Fydo (Previously Lfyd) receives an undisclosed amount of funding". Unknown parameter
|url-status=ignored (help)
External links
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