Two-year-old FMCG wholesale platform, ApnaKlub has raised $10 million in a Series A funding round 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 on social sellers and Kirana-store owners from Tier 2 and 3 cities.
With ApnaKlub a user can digitise their wholesale business as a rural wholesaler or expand their business as a shopkeeper. The funding will be used to deepen infrastructure in key states, expand the platform from 5,000 to 20,000 partners and build out the credit product.
ApnaKlub was incubated with Whiteboard Capital in 2020 by Shruti and Manish who come with strong complementary backgrounds across product, strategy and FMCG distribution. Shruti an alumnus of IIT Delhi and an MBA from Harvard business school with professional work experience at Bain & Omidyar. Manish comes with intensive experience in Retail & FMCG having held leadership roles at Walmart India, Metro Cash & Carry and Future Group.
“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,” Shruti, Co-founder & CEO, ApnaKlub, said,
The company said that it is trying to address the pain points of an addressable $100 billion market
With ApnaKlub, wholesalers increase profits and sale volumes by winning over a large share of their customer’s wallet and get access to over 1,000 SKUs. New wholesalers get training, inside knowledge of the market and a zero-money investment model, as per an official handout.
"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,” John Curtius, Partner at Tiger Global, said.
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