Applop Mobile Solutions, a SaaS platform which enables users to make their own mobile app, has raised a bridge round of funding from its existing investor Green House Ventures Accelerator.
So far, the company has received more than $250,000 in the current round but it is looking to close the round at $500,000. Apart from Green House Ventures Accelerator, a Bangalore based investor has also participated in this round, whose name has not been disclosed.
With the fresh capital coming, the company will spend money for technology development and expanding operations to Southeast Asia. A significant amount of money will be used for marketing and brand building.
Applop was founded in July 2015 by Rahul Singhal and his wife Jyoti Singhal. It is a mobile application that enables smartphone users to create and customise their mobile apps without any coding. It has simplified the process of developing apps for non-tech consumers, by eliminating the cumbersome process of building wireframes and backends and coding.
It also assists business owners in text-based solutions, digital marketing and payment integration solutions. As per the company, it has helped users in creating around 900 mobile apps till date. It further says that half of its users are paid customers. The company says that it has added nearly 3,000 clients on its platform. As of June 2016, the startup claims to have generated revenue of Rs. 45 lakh.
As Applop was part of GHV Accelerator last year, it had received $100,000 in seed funding. The startup is also a part of Nasscom Startup Warehouse. As per Rajat Tandon of Nascomm 10,000 Startups, the company will benefit from the growing need for mobile apps owing to better smartphones and Internet penetration.
Vikram Upadhyaya, chief mentor and accelerator evangelist, GHV Accelerator, said,
The world is going to bet high on the Indian mobile app industry. There has been a paradigm shift from dotcom to apps, as users shift from desktops to smartphones.
Started by serial entrepreneur Vikram Upadhyay, GHV Accelerator provides mentorship along with a capital of $100,000 to early-stage startups. Startups can focus on their energies on the core activities of their ventures, such as product strengthening and growth metrics. The accelerator’s portfolio includes LazyLad, My Taxi India, Foodport, Pick My Laundry, FitMeIn, among others.