In its first external fundraising round, SingleInterface, a software platform that connects hyperlocal marketing to commerce, has raised $30 million. PayPal Ventures and growth equity investment firm Asia Partners, both based in Singapore, led the round.
As per SingleInterface’s statement, the company plans to utilize the funds to strengthen its market leadership in Asia, broaden its global presence, and enhance its range of hyperlocal marketing, engagement, and commerce offerings.
Tarun Sobhani and Harish Bahl, two serial entrepreneurs, founded SingleInterface, a software as a service (SaaS) platform with an integrated product suite that powers e-commerce, customer engagement, and digital marketing for multi-location enterprise brands.
The company, situated in Gurugram, increases brand visibility to consumers at pivotal moments when purchases are made. It also improves customer engagement, drives discovery, handles feedback, and provides omnichannel experiences.
SingleInterface presently serves clients throughout Asia and the Middle East and has over 400 multi-location brands in sectors like food and beverage, retail, automotive, telecommunications, banking, and education.
According to chief executive Sobhani, the company’s product line has helped its clients grow their revenue significantly, sometimes accounting for 15–25% of total revenue. He states that more money will be spent by the company expanding its line of AI-driven marketing and commerce-enabling products.
The ten-year-old company asserts that it has over 400 million local businesses across the globe.
The Indian division of SingleInterface reported an increase in operating revenue of almost 25% to Rs 40.76 crore in FY23. In FY23, the company’s nominal profit was Rs 98 lakh, compared to Rs 64 lakh in FY22.
