Description
ConsCent allows users to consume premium content by eliminating the problem of being blocked out by a paywall. They offer a universal and an interoperable wallet for the entire content universe, from OTT to news providers, as well as gaming platforms. They allow users to pay for one story at a time, even if they don’t want to subscribe, this converts fleeting users into paying ones.
They take commissions on each transaction, and their Gross Margin on this is 15% of GMV. Their monthly GMV is INR 6-7 Lakhs, which is expected to increase to INR 1 Cr by the end of the financial year.
They are the first movers in this space and it is an easy-to-scale model. Currently, they have 120K total users which is increasing by 25% month on month.
Their technology is backed by deep user behaviour analytics, along with enhanced monetisation via marketing and recommendation tools.
Some of their key customers include India Today, Outlook Group, Aaj Tak, Amar Ujala, National Geographic, Mid-Day, and Business Today.
Epicon, an OTT Platform, has seen 100% growth in paying customers, 41% MoM growth in revenue, and a 27% conversion rate from clicks, all because of ConsCent.
Details of the round:
ConsCent is currently raising INR 12Cr in this round. They have already received commitments of INR 11Cr from Riso Capital, Times Group, and other Angel Networks.
They are raising funds through Compulsory Convertible Debentures (CCDs) at a 20% discount to the subsequent funding round, with a discounted valuation floor of INR 46Cr and a discounted cap of INR 57Cr. They are looking to raise INR 75 Lakhs from the Lead Angels Fund.
The investment in ConsCent will be routed only through our SEBI registered AIF Category 1 VCF Angel Fund, Lead Angels Fund. Lead Angels will be sharing more such exciting investment opportunities in the future which will be invested through the new AIF platform. These will include a mix of seed-stage/pre-Series A raises of the Lead Angel Network portfolio and other opportunities which have been introduced by our partners. Given the advantages of the platform, we expect to see significantly more opportunities on this platform over time.
The minimum commitment to the company is INR 5 Lakhs*. In case commitments exceed the allocated amount, allotment will be on the “First Come, First Serve” basis.
