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HomeStoriesE-CommerceHow Bhubaneswar based Hyperlocal Discovery platform Lfyd is connecting Hyperlocal-shopkeepers to customers

How Bhubaneswar based Hyperlocal Discovery platform Lfyd is connecting Hyperlocal-shopkeepers to customers

Satyajeet Patnayak & Dharam Chand Patnaik Founders of Lfyd
Satyajeet Patnayak & Dharam Chand Patnaik Founders of Lfyd

We all are aware of the problems that are being faced by the small and medium scale shopkeepers these days to compete in the market with big players retail chains. It takes too much of time to make a sizeable customer base if you are new in the market. Apart from that a lot of money has to be spent for marketing if they have to inform customers about any sale or new deals in their shops because there is no right place to give information to customers without spending a lot of money, this problem is being faced by millions of shopkeepers across India.

Satyajeet have experienced all these problems personally as his uncle has been operating 2 Supermarts in Bhubaneswar for past 20 years.

Satyajeet Patnayak has done Bachelor of Technology and Mechanical Engineering from CET, Bhubaneswar. He was keen on building a startup from his engineering days, in his 3rd year he already found a startup on electric vehicles, after that he got placed in an automobile company. Satyajeet wanted to solve these problems faced by his uncle and realised that his uncle is not the only one facing these problems but there are millions of shopkeepers in India who are facing same problems and that’s why he decided to start LETS FUND YOUR DREAMS with his father.

Lfyd is a hyper-local eCommerce and a Business Development company that has been set up to allow the customers to discover exclusive offers and sales happening in their city along with receiving attractive cash backs while paying in partner’s shops with the app.

“We are very proud of what we do, for our customers we give them a platform to explore their local shops and get all the information about latest deals and sales happening in the market. People can get real time information about their shop and get other people’s reviews about the shop. At the same time, it’s also a holy grail for businesses and businessmen. From marketing to branding and promotion, our company provides a one-stop solution for growing a business and getting more sales and customers. When a business registers as our partner we provide them complete support and knowledge about running the business so that they always remain ahead in the competition. We aim to help people in generating more profit from their business even if they are a novice” Satyajeet says.

Satyajeet’s father Dharam Chand Patnaik joined Lfyd as a CFO, his father is a retired government officer in Dept. of Finance from Govt. of Jharkhand.

Lfyd is a bootstrapped startup and about to raise their seed from the ground, currently operating in 10 cities from 4 states with 40000+ customers and more than 2.5 crores of GMV in less than 6 months.

Lfyd is a marketplace which has two different sets of customers. One, the shopkeepers of various age groups comprised of different kinds of businesses from a small grocery and meat shop to big brands like Louis Philippe or Louis Vuitton.

 LETS FUND YOUR DREAMS APPLICATION
LETS FUND YOUR DREAMS APPLICATION

On the other hand, Lfyd has customers who are mostly in the age group of 15 to 35, who love to get information about the deals, discounts and events from their respective city. Lfyd cater to every business need and even malls in cities to advertise their upcoming festive and seasonal sales on Lfyd’s app.

Lfyd is backed by NASSCOM and was in the Top 10% of Startups that pitched at Y Combinator for Winter 2020 Batch and also selected at 500 Startups Singapore Cohort.

Lets Fund Your Dream Website

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