ApnaKlub, an FMCG wholesale platform for low population density markets, has raised $10 million in its Series A round. This fresh funding capital is led by Tiger Global.
The fresh funding capital will be utilized in the following ways:
- To deepen infrastructure in some states,
- Expansion of the platform from 5000 partners to 20,000 partners, and
- Build a credit product.
ApnaKlub was founded by HBS alumni Shruti and Manish Kumar in the year 2020. This Bengaluru-based startup has the vision to disrupt the traditional wholesale FMCG distribution landscape in India through its reseller retailers and wholesalers based in tier II, and tier III areas in India. By using ApnaKlub, a user can digitize their wholesale business as a rural wholesaler or make expansion of their business as a shopkeeper.
EXECUTIVE OPINION:
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.”
Manish, Co-founder, and COO, ApnaKlub, stated, "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."
John Curtius, Partner at Tiger Global, said, "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."
