WYLD Raises Pre-seed Funding From Better Capital, Aman Gupta, others
WYLD is a phygital payment card and mobile app, exclusively designed for active social media users to help them monetise their social influence
WYLD, India’s first social currency card company, has raised $350K in Pre-seed funding. The round was led by Better Capital and also saw participation from renowned entrepreneurs such as Aman Gupta & Sameer Mehta (boAt), Aditi Shrivastava (Pocket Aces), Malini Agarwal (MissMalini), Nikunj Lotia (BeYouNick), Pranay Swarup & Julie Kriegshaber (Chtrbox), Rohit Raj (The Glitch), Ankit Kedia (Capital-A), Singularity Ventures, Ganesh Krishnan (Plan B Innovations), Shrishti Sahu, Karthik Bhatt (Force Ventures) and others.
WYLD is a phygital payment card and mobile app, exclusively designed for active social media users (those with over 1000 followers on Instagram) to help them monetise their social influence. Built on the premise that everybody with a digital presence, no matter how big or small, is influential. WYLD helps them leverage and monetise that influence with every purchase.
Capitalizing on the booming creator economy across the globe, WYLD lets its users shop at its wide range of partner brands, online or offline, using the WYLD card, and if they choose to post about the product/brand on social media, the user earns substantial cash backs on their purchase, which scales with their social clout. The cash backs are based on the user’s presence on Instagram which is measured by their WYLD Score - the brand’s proprietary AI social scoring system, determined by the number of followers, reach, engagement, frequency of posts and other such parameters.
WYLD will be using the funds from the pre-seed round towards tech advancements, developing the WYLD payment card and building a robust go-to-market strategy.
Founded in 2021, WYLD’s founding team members have vast domain knowledge and experience in building fintech products, loyalty and customer retention platforms, digital content and influencer management businesses, and consist of Yash Sakhlecha (Co-founder & CEO), Dishant Sanghvi (Co-Founder & CMO), Rij Eappen (COO) & Aashna Sakhlecha (Chief Delight Officer).
Speaking on the funding, Dishant Sanghvi - Co-Founder & CMO said, “We believe everybody has a circle of influence, and at WYLD, we aim to help active social media users in India monetise that influence. We envision a world where someone with as little as 1000 followers can get paid for giving a shout-out on social media, about their latest purchase or experience, and become ambassadors for their favourite brands, creating user-generated content at scale. The possibilities are vast, and needless to say, we’re very excited to have some of the best VCs and tech founders in the country who share our vision and have backed us!”
"I believe the future of digital marketing will be in leveraging the clout of the everyday social media user, and WYLD is geared to be a major disruptor in this space. A platform that allows all active social media users to become brand evangelists, and monetise their network, is a game-changer for brands and users. I think they're going to be a category builder, and I’m excited to be a part of it," said Aman Gupta, Co-Founder and CMO, boAt.
“WYLD is quite simply a productised way for brands to engage social media users at scale and reach their audiences like never before. It’s also a brilliant way for brands to reduce dependency on expensive channels like Google, Facebook and marketplaces with little to no ef ort. I am excited to partner with Yash and Dishant from Day 0”, said Vaibhav Domkundwar of Better Capital, an early backer of breakout companies like Slice, Open, Rupeek, Teachmint, Jupiter & others.
WYLD is building a new way of marketing by being the only product in the market that gets brand sales and effective word-of-mouth marketing at the same time.
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