Welcome Guest

Businessex.Com
Home News Tiger Global invests in online marketplace for SMEs ShopClues.com

Tiger Global invests in online marketplace for SMEs ShopClues.com

Tags: ShopClues.com, Small Medium Businesses, Tiger Global, eCommerce, Nexus Venture Partners, Helion Venture Partners

January 19, 2015 | COMMENTS ( 0 )

Tiger Global invests in online marketplace for SMEs ShopClues.com

ShopClues.com, India’s largest marketplace for Small Medium Businesses (SMBs) has raised over $100 million in Series D round of funding. The funding is led by Tiger Global, one of the largest global institutional investors. The new round also saw participation of its existing investors - Helion Venture Partners and Nexus Venture Partners.

Sanjay Sethi, CEO and Co-founder, ShopClues said, “So far we have brought 100,000 sellers and 10 million products online and the next three years will be focused on bringing 10 million sellers and 1 billion products to the online domain. We will continue to build technologies and services to enable and empower retailers to participate in the e-commerce revolution that is happening in India. ShopClues levels the playing fields for SMBs to compete with other organised retailers both in the online and offline space."

Sharing his views on the same, Lee Fixel, MD and Partner, Tiger Global said, “ShopClues has emerged as the leading marketplace of choice for the millions of small and local businesses seeking to reach mass consumers in India’s tier 2 and tier 3 cities. Sanjay, Radhika and the team have done a great job aggregating the country’s largest online catalogue of regional and local brands and we are excited to partner with ShopClues as it expands its offerings.”

ShopClues was founded in 2011 as India’s first fully managed marketplace, when all other players were inventory led models. Currently, ShopClues does 1.5 million transactions per month with 70 per cent of them coming from tier 2 & 3 cities and the platform empowers over 1 lakh SMBs

Radhika Ghai Aggarwal, Co-founder, ShopClues commented, “In Tiger Global, we found a strategic partner who showed confidence in our capability to operate the country’s largest marketplace for the masses – be it the millions of small merchants wanting to sell online or the vast pool of shoppers in tier 2/3 towns looking for access to the products and categories that they never had before. The fact that another ace investor has been added to our list of institutional investors is a strong endorsement of our team, strategy and business performance.”

Unlike other marketplaces, which tend to focus on mobile, electronics, computers and branded fashion, ShopClues focuses on unstructured categories, which contribute to 2/3rd towards its revenues. With over 40 million monthly visitors, Shopclues.com continues to grow 600 per cent year-on-year and is changing the landscape of Indian e-commerce industry.

Please add your comment

Rating
Not readable? Change text.
Enter the characters as seen on the image (case insensitive)
  Notify me of followup comments via e-mail   Subscribe for daily newsletter

Other NEWS

Delhi based startup i2e1 raises $5,00,000

Delhi based startup i2e1 raises $5,...

December 10, 2015

Delhi-based i2e1, a smart network player platform which aims to provide low-cost and free internet to consumers and actionable ana....

Cab aggregators collaborate with state governments to boost entrepreneurship

Cab aggregators collaborate with st...

November 06, 2015

Ola and Uber, cab aggregators have signed agreements with Rajasthan government for skill development and creation of entrepreneuri....

Phase II of startup incubator T-Hub to be operational soon

Phase II of startup incubator T-Hub...

November 04, 2015

Telangana government is planning to expand T-Hub, its ambitious incubator programme, in its second phase with about Rs 150 crore i....

Sabse Technologies receives investment from Ratan Tata

Sabse Technologies receives investm...

November 04, 2015

Global telecom carrier, Sabse Technologies Inc, started by Hotmail Founder Sabeer Bhatia today announced that Tata Sons' Chairman ....

Mobile startup BlackNGreen seeks international expansion

Mobile startup BlackNGreen seeks in...

November 02, 2015

Buoyed by a strong demand for value added services, mobile startup BlackNGreen is eyeing revenue of Rs 350 crore in the next one y....

Startups seek better future under Hay Group's programme

Startups seek better future under H...

October 30, 2015

Global management consultancy, Hay Group will help 100 selected entrepreneurs transform their startups into successful companies o....

Quintype raises USD 3.25 million for product enhancement

Quintype raises USD 3.25 million fo...

October 27, 2015

Quintype, a data-driven publishing company raised USD 3.25 million to enhance product and business development. ....

Hospitality aggregator startup Qik Stay raises $250K

Hospitality aggregator startup Qik ...

October 27, 2015

Delhi-based Qik Stay, a hotel branding and aggregator startup, has raised $250K in seed round of funding from venture capital firm....

Milk Mantra targets a turnover of Rs 150 crore this fiscal

Milk Mantra targets a turnover of R...

October 26, 2015

Odisha-based startup dairy firm, Milk Mantra is targeting a turnover of Rs 150 crore this fiscal.....

Vista Rooms creates app on Instagram, targets tier II & III cities

Vista Rooms creates app on Instagra...

October 23, 2015

Mumbai-based online budget accommodation aggregator, Vista Rooms has created an app-like experience on Instagram where travellers ....

Jiyo Natural receives funding from Indian Angel Network

Jiyo Natural receives funding from ...

October 23, 2015

Indian Angel Network (IAN) has invested an undisclosed amount in Bengaluru-based consumer health food startup, Jiyo Natural.....

​​Vodoo raises USD 1 million from SAIF Partners

​​Vodoo raises USD 1 mi...

October 15, 2015

Deals and price comparison application, Vodoo has raised USD 1 million (around Rs 65 lakh) from SAIF Partners in a seed funding ro....

IBM launches public data centre in Chennai, partners with Nasscom to boost start ups

IBM launches public data centre in ...

October 15, 2015

Technology giant, IBM today launched public data centre in Chennai to tap into growing demand from financial services and governme....

For Nasscom, PPP will boost startups in India

For Nasscom, PPP will boost startup...

October 14, 2015

In the wake of some reservations over the central government creating startup funds, Nasscom's "10,000 startups" Vice President, R....

WalmartLabs to seek partnership with Indian startups

WalmartLabs to seek partnership wit...

October 14, 2015

WalmartLabs, the digital arm of US-based retailing major Walmart Stores, is scouting for startups in India for partnership and wor....