Bangalore, India-based FMCG wholesale startup ApnaKlub raised USD 10 million in Series A funding on May 12, 2022. New York-based Tiger Global Management led the round for the company.

Purpose of Funding for ApnaKlub

With the latest capital infusion, the wholesale company plans to deepen infrastructure in key states. ApnaKub seeks to expand its platform from 5000 to 20,000 partners and build out the credit product. 

The company helps its clients with operations such as order aggregation, transport, and inventory handling. Moreover, it provides a zero capital model. Besides, the startup will make its foray into the credit and supply-chain financing segment. It will cater to kiranas and wholesale partners. 

ApnaKlub earlier raised USD 4 million from Sequoia India’s Surge, Blume Ventures, Whiteboard Capital and Flourish Ventures in August 2021.

What the founders have to say

Shruti, Co-founder and CEO, ApnaKlub, said, “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. We are introducing new tools like credit and supply chain finance on our platforms. We will also enter the North India market and use funds for hirings.”

Manish, Co-founder and COO, ApnaKlub, further said, “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.”

What the investor has to say

John Curtius, Partner at Tiger Global, said, “Indian CPG retail is a US$100 Billion Opportunity, and Kirana stores own most 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.”

Ashish Fafadia, Partner at Blume Ventures, said, “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 in the market. The additional capital raise allows the company to expand its footprint further. It helps to 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”.

“As partners with the ApnaKlub team since the inception of the business, we are 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.

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Jasleen Bhatia works as a content writer for VCBay News. She is pursuing her final semester in Bachelor of Business Administration from IIPS, DAVV. Driven by her keen interest in entrepreneurship and finance, she writes business-related articles.


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