ApnaKlub Raises $10M in Series A Funding Round from Tiger Global

ApnaKlub Raises $10M in Series A Funding Round from Tiger Global

The funding will be used to deepen infrastructure in key states, expand the platform from 5000 to 20,000 partners and build out the credit product.

ApnaKlub, a FMCG wholesale stage for low populace density markets, has brought $10 million up in its Series A funding from Tiger Global. This follows the $4 million round they raised from Sequoia India’s Surge, Blume Ventures, Whiteboard Capital and Flourish Ventures in August 2021. ApnaKlub focuses around social sellers and kirana-store owners from level 2 and level 3 cities. With ApnaKlub clients can digitise their wholesale business as a provincial distributer or grow their business as a shopkeeper.

ApnaKlub was incubated with Whiteboard Capital in 2020 by Shruti and Manish who come with complementary backgrounds across product, strategy and FMCG distribution.

“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, 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 & CEO, 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 allows anyone with a smartphone and a highly entrepreneurial drive to earn supplemental income by aggregating demand and supplying FMCG goods to retail (kirana) stores in their local community. ApnaKlub takes care of order aggregation, transport, inventory handling and provides a zero capital model.

“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,” Manish, co-founder and COO, ApnaKlub, said.

This is a $100 billion consumption market and ApnaKlub’s approach addresses the pain points of 40 per cent of the market. With ApnaKlub, wholesalers increase profits and sales volumes by winning over a large share of their customer’s wallet and get access to over 1000 SKUs. New wholesalers get training, inside knowledge of the market and a zero money investment model.

“ApnaKlub has been reimagining the supply chain for the rural and semi urban population. Over the last 18 months the growth and traction is 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 2 and 3,” said Ashish Fafadia, partner at Blume Ventures. “As partners with the ApnaKlub team since inception of the business, we have been lucky to witness the amazing business growth achieved by the team with a strong focus on unit profitability. We are excited for the future as Shruti and Manish lead the business to greater heights”, said Anshu Prasher, general partner at Whiteboard Capital.

Disclaimer: If you need to edit or update this news from compsmag then kindly contact us Learn more

For Latest News Follow us on Google News


Latest Headlines
  • Show all
  • Trending News
  • Popular By week
As supply chain issues remain, Applied Materials predicts a dismal current quarter
As supply chain issues remain, Applied Materials predicts a dismal current quarter
“We anticipate our ability to fulfill this demand will remain constrained by ongoing supply chain challenges in the near term with incremental improvements ...
Exclusive Super Follows spaces are now accessible in Twitter for Android, iOS and web users
Exclusive Super Follows spaces are now accessible in Twitter for Android, iOS and web users
The company has announced that it is now rolling out Super Follows-exclusive Spaces. As the name suggests, these spaces would be exclusive for Super Follows ...
Daimler India reports 48% growth in truck sales last year
Daimler India reports 48% growth in truck sales last year
“Despite supply chain headwinds, rising input costs, rising fuel prices and the impact of the pandemic, we closed the year with a 48 per cent increase in ...
Fraudulent Apple Customer Service Costs a Woman $1,500
Fraudulent Apple Customer Service Costs a Woman $1,500
“The woman answered, she said she would be more than happy to help me,” Pridemore said. Scam numbers pop up during web searches The number she called wasn’t ...
Market sell-off deepens on global recession worries
Market sell-off deepens on global recession worries
The Sensex plunged 1,416 points, or 2.6 per cent, to end at 52,792 — the lowest close since July 30, 2021. The Nifty50 index, on the other hand, closed at ...
'Retail Apocalypse': Inflation-driven profit cuts rock Wall Street
‘Retail Apocalypse’: Inflation-driven profit cuts rock Wall Street
Retail profits were hit by higher staffing expenses, bloated inventories, and more expensive fuel, leading to a market collapse that saw Wall Street post its ...
IGL to launch Rs 8,000 cr in five years to expand CNG gas network
IGL to launch Rs 8,000 cr in five years to expand CNG gas network
“We have a capex spending plan of Rs 6,000 crore in the seven new geographical areas (GAs) in the next five years,” he told reporters. Indraprastha Gas Ltd, ...
Android release date for Poppy Playtime Chapter 3
Android release date for Poppy Playtime Chapter 3
The factory’s toys have come to life and are aggressively striving to hurt other people. Additional VHS tapes were supplied for replay throughout the ...
HeidelbergCement India fourth quarter net profit drops sharply by 33.13% to Rs 93.61 cr
HeidelbergCement India fourth quarter net profit drops sharply by 33.13% to Rs 93.61 cr
HeidelbergCement India’s total expenses rose 10.35 per cent to Rs 534.60 crore in Q4 FY 2021-22 against Rs 484.42 crore a year ago. HeidelbergCement India ...
TikTok is experimenting with new mini-games ahead of a gaming push
TikTok is experimenting with new mini-games ahead of a gaming push
TikTok has also tested streaming software for games. It offers “Live Studio” for PCs and allows select creators to include mini-apps in videos. TechCrunch ...
Show next
We will be happy to hear your thoughts

Leave a reply

Compsmag - Latest News In Tech and Business
Logo