Friday, May 20, 2022
HomeInsightFunding Alert ApnaKlub raises $10 mn in series A funding from Tiger Global

[Funding alert] ApnaKlub raises $10 mn in series A funding from Tiger Global

[Funding alert] ApnaKlub raises $10 mn in series A funding from Tiger Global
ApnaKlub

FMCG wholesale platform ApnaKlub has raised $10 million in its Series A funding round from Tiger Global.

The startup plans to use the funds to deepen infrastructure in key states, expand the platform to 5,000 to 20,000 partners, and build credit products.

The Bengaluru-based Apnaklub was founded in 2020 by HBS alumni Shruti and Manish Kumar, It aims to disrupt the traditional wholesale FMCG distribution landscape in India through its reseller-led B2B platform for retailers and wholesalers located in Tier II, Tier III Cities across India.

Through its platform, the user can digitize his wholesale business as a rural wholesaler or expand his business as a shopkeeper.

It takes care of order aggregation, transport, inventory handling and offers a zero capital model.

“ApnaKlub helps retailers and traders in tier II and III cities of India to leverage their collective demand and geographic presence, into a flourishing retail business, which provides greater consumer choice and delight, by providing access to a wider range of products at comparable margins, as well as better credit and logistics terms than status quo”, said, Shruti, Co-founder and CEO, ApnaKlub.

“ApnaKlub brings the convenience of digital wholesale supply to tier II & tier III smartphone users. It also creates opportunities for regional brands to list their products and earn better by reaching a wider audience across India”, said, Manish Kumar, Co-founder and COO, ApnaKlub.

“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”, said, John Curtius, Partner at Tiger Global.

“ApnaKlub has been reimagining the supply chain for the rural and semi-urban population. Over the last 18 months, the growth and traction are testimony to the gap that exists in the market and a formidable business model framework has been laid out. The additional capital raise allows the company to further expand its footprint and create a unique supply chain that’s relevant to the growing needs of Bharat. Shruti& Manish as founders bring a strong understanding of the markets through their past experiences and unique insights in the supply chain of India II and III”, said, Ashish Fafadia, Partner at Blume Ventures.

In August 2021, Apnaklub had raised $4 million in a funding round from Sequoia India’s Surge, Blume Ventures, Whiteboard Capital and Flourish Ventures.

About ApnaKlub

ApnaKlub is India’s most trusted wholesale platform that empowers people to set up their own retail and sales businesses by providing better-than-industry margins on 200+ brands and dedicated delivery services throughout India.

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