FMCG wholesale platform ApnaKlub has raised $10 million in Series funding from Tiger Global. ApnaKlub focuses on social sellers and Kirana store owners in second-and third-tier cities. Using ApnaKlub, users can digitise their wholesale business as rural wholesalers or expand their business as store owners.
The startup plans to use the funds raised to deepen infrastructure in key states, expand its platform from 5,000 to 20,000 partners, and build credit products. ApnaKlub helps clients with order aggregation, shipping, and inventory processing and offers a zero-capital model. ApnaKlub had raised $4 million in August 2021 from Sequoia India‘s Surge, Blume Ventures, Whiteboard Capital and Flourish Ventures.
Co-incubated with Whiteboard Capital in 2020, ApnaKlub was founded by Shruti and Manish Kumar, who have complementary backgrounds in product, strategy and FMCG distribution. The company competes with other well-funded startups such as ElasticRun, DealShare, ShopKirana, and Udaan. “ApnaKlub offers a wider range of products at comparable profit margins by offering better credit and logistics than the status quo,” said Shruti, co-founder and CEO of ApnaKlub.
John Curtius, Partner at Tiger Global, said: “CPG retail in India is a $100 billion opportunity, and Kirana stores have most of the current distribution channels. ApnaKlub provides retailers and brands with a digital supply chain and credit tools for online and offline winning channels. Shruti and Manish have built a fast-growing platform based on deep customer insights.”
On May 11, e-commerce enablers GoKwik and Shopflo raised $35 million and $2.6 million, respectively. According to Statista, the Indian e-commerce industry was worth around $22 billion in 2018 and is expected to reach $200 billion by 2027.