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ApnaClub, an FMCG wholesale platform for markets with low population density, has raised $10 million in Series A funding from Tiger Global. This follows a $4 million round raised in August 2021 from Sequoia India’s Surge, Bloom Ventures, Whiteboard Capital and Flourish Ventures.
The funding will be used to deepen infrastructure in key states, expand the platform to 5,000 to 20,000 partners, and create credit products.
ApnaClub, incubated by Shruti & Manish with Whiteboard Capital in 2020, focuses on social vendors and kirana-store owners from Tier II and Tier III cities. With ApnaClub, the user can digitize his wholesale business as a rural wholesaler or expand his business as a shopkeeper.
“ApnaClub helps retailers and merchants in Tier II and Tier III cities of India to leverage their collective demand and geographic presence, into a thriving retail business, by providing access to a wide range of products at comparable margins. Provides consumer choice and pleasure. , as well as better credit and logistics terms than the status quo,” said Shruti, Co-Founder and CEO, ApnaClub.
ApnaClub allows anyone to earn supplemental income by soliciting and supplying FMCG goods to retail (Kirana) stores in their local community with a smartphone and entrepreneurial drive. The startup takes care of order aggregation, transport, inventory handling and offers a zero capital model.
“Indian CPG retail is a $100 billion opportunity and kirana stores own the majority of the current distribution channels. ApnaClub is grooming retailers and brands to win over online and offline channels with digital supply chain and credit tools. Shruti And Manish has built a rapidly growing platform based on deep customer insights,” said John Curtius, Partner, Tiger Global.
With ApnaClub, wholesalers increase profits and sales volume by winning a larger share of their customers’ wallets and gain access to over 1000 SKUs, the company said in a statement. New wholesalers receive training, market insider knowledge and a zero money investment model.
“ApnaClub brings the convenience of digital wholesale supply to Tier 2 and Tier 3 smartphone users. It also creates opportunities for regional brands to list their products and earn better by reaching out to a wider audience across India,” Manish, The co-founder and COO said, Apna Club.