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Playment raises a Pre-Series funding of Rs 4.7 crores from SAIF Partners

Playment raises a Pre-Series funding of Rs 4.7 crores from SAIF Partners- mybigplunge

Startup & Entrepreneurship

Playment raises a Pre-Series funding of Rs 4.7 crores from SAIF Partners

Aiming to strengthen its team and scale up deployments, mobile crowd-sourcing start-up platform Payment has raised a Pre-Series A funding of Rs. 4.7 crores from venture capital firm SAIF Partners.

Siddharth Mall, CEO, Playment said, “The world has seen how the likes of Airbnb & Uber have created a new source of income and we want to be right up there with them. We’re building a platform where humans & machines can work together to solve problems which were previously unsolvable at scale.”

The Bangalore-based marketplace enables large companies to crowd-source completion of process oriented tasks that are typically done by in-house or outsourced teams (BPOs).

Playment will use the funds raised to lay the foundation of a world-class engineering and product team, along with scaling up deployments in all clients. It is working with Indian e-commerce companies to enable completion of micro-tasks such as meta tagging of photos, product categorization, clean up of product profiles etc.

Mayank Khanduja, Principal, SAIF Partners, said, “We feel it’s the best team for the job as the co-founders have strong technical backgrounds and first-hand knowledge of the space via their Flipkart experience. While the platform is still in early stages, it’s power lies in the ability to generate direct and recurring cash earnings for anyone with a smartphone within minutes of coming on the platform.”

“India is a fast-growing emerging market with lots of ambitious people and we believe the masses would get addicted to Playment,“ added Khanduja.

Playment is a two-sided marketplace that helps large companies bring cost-effectiveness and speed to their operations, and on the other side helps smartphone users supplement their income on the go. To the company’s credit, it has already been able to supplement monthly has to do up to 15 quality inspections on each and every SKU submitted before its gets published.

Incepted in August 2015, Playment was launched in November 2015 by IIT-Kharagpur alumni Siddharth Mall & Akshay Lal, along with IIT-Guwahati alumnus Ajinkya Malasane.

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