Mumbai, May 12 FMCG wholesale platform ApnaKlub has raised $10 million in its Series A funding from Tiger Global, the company announced on Thursday.
This follows the $4 million round they raised from Sequoia India’s Surge, Blume Ventures, Whiteboard Capital and Flourish Ventures in August 2021.
The company will use the funding to deepen infrastructure in key States, expand the platform from 5000 to 20,000 partners and build out the credit product.
Focus on Kirana-stores
The platform focuses on social sellers and Kirana-store owners from tier 2 and tier 3 cities. It enables users to digitise their wholesale business as a rural wholesaler or expand their business as a shopkeeper.
It was incubated with Whiteboard Capital in 2020 by Shruti and Manish.
Shruti, Co-founder & CEO, ApnaKlub, said, “ApnaKlub helps retailers and traders in Tier 2 and 3 cities of India to leverage their collective demand and geographic presence, into a flourishing retail business by providing access to a wider range of products at comparable margins, as well as better credit and logistics terms than status quo.”
ApnaKlub takes care of order aggregation, transport, inventory handling and provides a zero capital model.
Manish, Co-founder and COO, ApnaKlub, said, “ApnaKlub brings the convenience of digital wholesale supply to tier 2 & tier 3 smartphone users. It also creates opportunities for regional brands to list their products and earn better by reaching a wider audience across India.”
John Curtius, Partner at Tiger Global, said, “Indian CPG retail is a $100 billion opportunity and kirana stores own the majority of current distribution channels. ApnaKlub is arming retailers and brands with the digital supply chain and credit tools to win across online and offline channels. Shruti and Manish have built a rapidly growing platform based on deep customer insights.”