# Auris Business Ventures FZCO

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/auris-business-ventures-fzco

- Industry: Software
- Headquarters: Dubai, United Arab Emirates
- Website: www.clipthedeal.com
- Total disclosed funding: $0.5M
- Latest round: Series A (Jun 18, 2020)
- Investors on record: 3

## About

Auris Business Ventures FZCO operates as a digital grocery coupon platform, facilitating significant savings for consumers through cashback deals on everyday shopping in the UAE and the broader Middle East region.Founded in 2016 and headquartered in Dubai, United Arab Emirates, Auris Business Ventures FZCO specializes in digital coupon solutions. The company has completed two deals to date, with the most recent funding round being a Seed round of USD 500,000 led by Dubai Silicon Oasis Authority on June 18, 2020. Co-founded by Manik Gupta and Padam Chhabra, who has a history of entrepreneurial ventures, the company continues to focus on optimizing customer savings through its innovative platform.Clip the Deal operates as a digital grocery coupon and offers platform, primarily serving users in the UAE and broader Middle East region. Its core offerings include cashback deals that allow users to save significantly—up to 55%—on everyday shopping at various supermarkets. The application facilitates seamless navigation for users to clip coupons, redeem cashback, and access personalized deals based on their shopping profiles and preferences. With over 700 deals available across more than 300 partnered retail stores, including major supermarkets like Choithrams, the platform caters to a diverse customer base that includes individual consumers looking to optimize their grocery spending. The app’s emphasis on user experience and high engagement is evident, as it has garnered a community of over 100,000 users since its launch.The revenue structure of Clip the Deal revolves around strategic partnerships with retailers and supermarkets, allowing for a commission-based model on the cashback deals facilitated through its platform. Users engage with the platform by downloading the app, registering, and clipping deals that they subsequently redeem either through in-store purchases or by submitting receipts for cashback. This model typically involves direct-to-consumer transactions, where the company earns revenue through agreements with participating retailers on a per-transaction basis. While specific pricing plans for services are not disclosed, the platform's business model fosters ongoing engagement through features such as refer-and-earn incentives and monthly contests, further enhancing its transactional revenue potential.Auris Business Ventures FZCO plans to expand its product offerings with new features aimed at enhancing user experience. This includes the development of personalized shopping tools and loyalty programs. Additionally, the company is looking to expand its reach within the Gulf Cooperation Council (GCC) region by the end of 2023, targeting markets such as Saudi Arabia and Qatar. The recent Seed funding of USD 500,000 will be utilized to support these expansion initiatives and further enhance the platform's capabilities.

## Funding rounds

- Series A, Jun 18, 2020 — NB Ventures, Optiscape Network Holdings
- Seed, Dec 11, 2017, $0.5M — Dubai Silicon Oasis Authority

## Investors

- Dubai Silicon Oasis Authority (https://capitalatlas.ai/funds/dubai-silicon-oasis-authority) — Seed
- NB Ventures (https://capitalatlas.ai/funds/nb-ventures) — Series A
- Optiscape Network Holdings — Series A