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Goodbox Acquires SmartPocket, a Mobile Wallet for Loyalty Credits

Goodbox Acquires SmartPocket, a Mobile Wallet for Loyalty Credits

By Gadgets 360 Staff | Updated: 20 January 2016 19:48 IST

Nexus Ventures-backed [Goodbox](https://www.gadgets360.com/tags/goodbox), which calls itself a conversational m-commerce startup, announced Wednesday that it will be acquiring SmartPocket, a mobile wallet solution for loyalty cards.

The acquisition sum was not disclosed. SmartPocket founders Kiran Shastri and Mayank Shah will be joining the leadership team at Goodbox post acquisition, the company said.

Goodbox provides a mobile app to chat and order from local businesses, enabling small businesses to become e-commerce ready quickly, while enabling users to buy from stores across multiple categories using a messaging platform.

(Also read: SmartPocket App Review: A Smarter Alternative to Loyalty Cards)

"During our discussions with them, we realized we share a similar vision and it made sense to join forces to empower millions of SMEs to come online. We are building very strong mobile capabilities and this is a step towards that objective." said Abey Zachariah, CEO and Co-founder of Goodbox.

Founded in 2014, the Bengaluru-based startup had raised $2.5 million (roughly Rs. 16.9 crores) in its Series A round from Nexus Venture Partners. SmartPocket had raised $200,000 (roughly Rs. 1.3 crores) in angel funding Its seven member co-founding team includes Mohit Maheshwari, Abey Zachariah, Mahesh Herle, Nithin Chandra, Anand Kelaginamani, Mayank Bidawatka and Charan Shetty.

A host of personal assistants provide chat-based shopping functionality, including Haptik, and Lookup. WhatsApp is expected to release new tools for businesses soon, to tap into small business entrepreneurs who use mobile internet to grow and network their business.

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