What is Magicpin?
Founded in 2015 and headquartered in Haryana, India, Magicpin operates as a comprehensive platform offering users a wide array of deals and discount coupons across various categories. These include online shopping, electronics, fashion, dining, beauty, entertainment, and travel. Users can redeem vouchers and coupons for purchases at online retailers, grocery stores, supermarkets, pharmacies, restaurants, fashion brands, e-commerce platforms, and service providers like petrol pumps, spas, and salons. The company's extensive reach and diverse offerings position it as a key facilitator of consumer savings and merchant engagement in the digital economy.
How much funding has Magicpin raised?
Magicpin has raised a total of $102.4M across 5 funding rounds:
Series A
$3M
Series B
$6.6M
Series C
$22.8M
Series D
$67M
Other Financing Round
$3M
Series A (2016): $3M with participation from Lightspeed Venture Partners
Series B (2017): $6.6M led by Lightspeed Venture Partners, WaterBridge Ventures, and Vy Capital
Series C (2020): $22.8M supported by Samsung Venture Investment Corporation
Series D (2020): $67M featuring WaterBridge Ventures, Samsung Venture Investment, and Lightspeed LLC
Other Financing Round (2021): $3M backed by The Bunting Family, RA Holdings, Lightspeed, and Moonstone
Key Investors in Magicpin
Lightspeed Venture Partners
Lightspeed Venture Partners (lsvp.com) is a global multistage venture capital firm that raises dedicated funds and invests in early and growth-stage technology companies across sectors such as enterprise software, consumer, fintech, and infrastructure, partnering with founders from seed through IPO/M&A.
WaterBridge Ventures
WaterBridge Ventures is a venture capital firm dedicated to helping entrepreneurs build generational companies across various sectors. With a focus on backing contrarian founders, WaterBridge Ventures has supported successful companies like Doubtnut, CityMall, Bijnis, Chalo, Atlan, and PocketPills.
Samsung Venture Investment
Samsung Ventures is a company that operates in the Venture Capital & Private Equity industry. It employs 20 to 49 people and has 10M to 25M in revenue. The company is headquartered in State College, Pennsylvania.
What's next for Magicpin?
The recent major strategic investment in Magicpin signals a pivotal phase for the company, likely aimed at further scaling its operations, enhancing its technological infrastructure, and expanding its market reach within India and potentially beyond. This capital infusion is expected to fuel innovation in its platform, strengthen partnerships with merchants, and improve user acquisition and retention strategies. As Magicpin continues to evolve, its focus will likely remain on leveraging data analytics to personalize offers and optimize the customer experience, solidifying its competitive advantage in the dynamic Indian market.
See full Magicpin company page
