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ApnaKlub raises $10 million in Series A funding

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The platform helps retailers and traders in tier 2 and tier 3 cities of India to leverage their collective demand and geographic presence, into a flourishing retail business

ApnaKlub has raised $10 million in its Series A funding from Tiger Global. The platform aims to use the proceeds from the funding to deepen infrastructure in key states, expand the platform from 5,000 to 20,000 partners and build out the credit product. 

For Shruti, co-founder and CEO, ApnaKlub, the platform helps retailers and traders in tier 2 and tier 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.

“ApnaKlub brings the digital wholesale supply to tier 2 and tier 3 smartphone users. It also creates opportunities for regional brands to list their products and earn by reaching a wider audience across India,” Manish Kumar, co-founder and COO, ApnaKlub, added.

This follows the $4 million round they raised from Sequoia India’s Surge, Blume Ventures, Whiteboard Capital and Flourish Ventures in August 2021. 

Indian consumer packaged goods (CPG) retail is a $100 billion opportunity and kirana stores own the majority of current distribution channels, John Curtius, partner, Tiger Global, said. “ApnaKlub is arming retailers and brands with the digital supply chain and credit tools to win across online and offline channels. Shruti and Kumar have built a platform based on customer insights,” he highlighted. 

For Ashish Fafadia, partner, Blume Ventures, the platform 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 business model framework has been laid out.  The additional capital raise allows the company to further expand its footprint and create a supply chain that’s relevant to the growing needs of ‘Bharat’. Shruti and Kumar as founders bring an understanding of the markets through their past experiences and unique insights in the supply chain of India in tier 2 and tier 3,” he stated.

Read Also: SUGAR Cosmetics looks to expand offline across 60,000 stores over the next 12-15 months

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