What is Magicpin?
Magicpin is a comprehensive platform designed to provide users with a wide array of offers and discounts across various sectors, including online shopping, electronics, fashion, dining, travel, and more. Founded in 2015 and headquartered in Haryana, India, the company empowers consumers to redeem vouchers and coupons for a multitude of services and products, from groceries and electronics to restaurant meals and travel bookings. This broad utility positions Magicpin as a key player in the consumer savings and discovery space, leveraging technology to enhance everyday purchasing decisions.
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 WaterBridge Ventures, Lightspeed Venture Partners, and Vy Capital
Series C (2020): $22.8M supported by Samsung Venture Investment Corporation
Series D (2020): $67M featuring Lightspeed LLC, Samsung Ventures, and WaterBridge Ventures
Other Financing Round (2021): $3M backed by Moonstone, RA Holdings, Lightspeed, and The Bunting Family
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 growthstage technology companies across sectors such as enterprise software, consumer, fintech, and infrastructure, partnering with founders from seed through IPO/M&A.
Samsung Venture Investment Corporation
Samsung Ventures is a company that operates in the Venture Capital & Private Equity industry. It employs 20to49 people and has 10Mto25M of revenue. The company is headquartered in State College, Pennsylvania.
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. The firm's portfolio reflects its commitment to partnering with pioneering global product teams and investing responsibly in inclusive finance initiatives such as the Principles for Investors in Inclusive Finance housed within the PRI framework.
What's next for Magicpin?
The substantial enterprise-level funding Magicpin has garnered suggests a strategic push towards market expansion and service enhancement. With a history of securing significant investment rounds, the company is well-positioned to further innovate its platform, potentially integrating new technologies or expanding into untapped markets. Future growth may involve strategic partnerships, enhanced loyalty programs, and a deeper penetration into the Indian consumer landscape, solidifying its role as a go-to platform for deals and savings.
See full Magicpin company page
