Yumchek in talks to raise funds

Yumchek, a mobile application that offers personalised restaurant suggestions to users, is looking to raise funds of about $500,000-$2 million to fund its expansion in newer markets in South East Asia.

The application, which has seen over 1.35 lakh downloads till now, finds the best culinary options for the user based on their location and preferences.

Further, to increase user engagement the app donates Rs.5 on users’ behalf to NGOs that help feed children such as Akshaya Patra, once user uploads a meal receipt.

A similar amount is credited to the users’ mobile wallet.

“We have a philosophy — making each meal count…This works on the crowd philanthropy model,” Yumchek Founder and CEO Piyush Gupta said.

“Currently, we are funding everything ourselves, but we are in discussions to raise funds… we will also be monetising the application by bring food and beverage brands on board.”

Users also earn loyalty points when uploading a meal receipt, which can be used to play a special lotto to win home appliances and other related prizes