Paytunes increases $500,000 from angel companies

A screen grab of Paytunes website.

Mumbai: actual Time Networks Pvt. Ltd, the organization that operates as Paytunes, has raised $500,000 in pre-collection A funding from Indian Angel community (IAN) and CIO Angel community. It raised $one hundred,000 from CIO Angel community in September final year. Vishal Khare and Rajeev Arora have led this spherical of investment on behalf of IAN and will be a part of the organization board.

based by way of Divya Pratap Singh and Rakesh Sehgal in 2015, Paytunes plans to make use of thefunding for expanding the group and hiring more talent on the sales facet and for advertisinginitiatives.

presently most of the branding spend (~eighty% of Rs.50,000 crore market) is going to conventionalmedia such as television, radio and print. Paytunes is building an alternative medium in the brandingdomainat the same time as most of the intake of these mediums is offline, all of those are looking toflow to cell to improve the consumer engagement and person mindspace. It gives a exceptionalopportunity for manufacturers to reach cellular purchasers notably,” said Khare.

Paytunes replaces cellular ringtones with ad jingles from advertisers and at the give up of a name,presentations a visible for the ad. For every advert performed, customers earns factors which they could later redeem in terms of cellular recharges and bill payments.

As in line with a current e-Marketer document, digital marketing spend in India is $1 billion, out of whichcellular advertising is $0.18 billion. via 2019, the digital ad spend is expected to grow to $2.17 billion andcell advertising to $1.23 billion.

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