<div>ShopClues, the latest entrant to India’s Unicorn ecommerce segment, plans to expand its tech team in Bengaluru. <br /><br />In an interaction with Deccan Herald, CEO and Co-founder Sanjay Sethi said that investment in technology is more important to keep pace with the company’s growth momentum. “We have already identified a Bengaluru-based startup as part of our strategic investment. At present, they have around 20-member technology team. Currently, our technology development centre is based out of Gurgaon. We want to expand our Bengaluru team from 20 to 100, and it will be our second technology centre,” he said. <br /><br />Sethi said that the company is investing heavily on technology by creating two centres, and the Bengaluru centre will focus on payments. “Of the total workforce, we have 20% for technology-centric development. The team is growing by 20-30% every year,” he said. <br /><br />According to sources familiar with the development, ShopClues has identified Bengaluru-based Momoe, founded by four-member team in April 2014, as part of its investment strategy. The company enables people to make payments via app using their mobile phones while dining out, shopping or commuting.<br /><br />Unlike Paytm and Mobikwik, which facilitate cashless payments with a virtual wallet, Momoe’s app works by linking credit cards, debit cards and net banking. It has tied up with over 3,000 brick-and-mortar merchants in Bengaluru and Pune.</div>
<div>ShopClues, the latest entrant to India’s Unicorn ecommerce segment, plans to expand its tech team in Bengaluru. <br /><br />In an interaction with Deccan Herald, CEO and Co-founder Sanjay Sethi said that investment in technology is more important to keep pace with the company’s growth momentum. “We have already identified a Bengaluru-based startup as part of our strategic investment. At present, they have around 20-member technology team. Currently, our technology development centre is based out of Gurgaon. We want to expand our Bengaluru team from 20 to 100, and it will be our second technology centre,” he said. <br /><br />Sethi said that the company is investing heavily on technology by creating two centres, and the Bengaluru centre will focus on payments. “Of the total workforce, we have 20% for technology-centric development. The team is growing by 20-30% every year,” he said. <br /><br />According to sources familiar with the development, ShopClues has identified Bengaluru-based Momoe, founded by four-member team in April 2014, as part of its investment strategy. The company enables people to make payments via app using their mobile phones while dining out, shopping or commuting.<br /><br />Unlike Paytm and Mobikwik, which facilitate cashless payments with a virtual wallet, Momoe’s app works by linking credit cards, debit cards and net banking. It has tied up with over 3,000 brick-and-mortar merchants in Bengaluru and Pune.</div>
