Dealshare is a Jaipur-based Social Commerce start-up company that has recently announced to have raised funds worth INR 25 crore in its latest Debt Financing round led by Mumbai-based InnoVen Capital.
The latest funds that have been raised by the company have bee collected in debt of INR 25 crore and it records as the company’s second financing round in the last six months. According to a statement given by the company and verified by the company profile on Crunchbase, the toral funding raised by Dealshare with this latest funding amounts to INR 267 crore.
When asked about the fundraise, the company mentions that this latest infusion of funds will be utilised by the start-up with expertise of the round’s lead investor InnoVen Capital in exponentially scaling the company’s geographical footprint across the country. As mentioned in a report by Economic Times India Times, Dealshare is planning to scale its presence to over 100 cities across the country by the end of 2021.
Founded back in September 2018 by Sankar Bora, Vineet Rao and Sourjyendu Medda, Dealshare focuses majorly on middle- and lower- income population in middle Tier cities, as mentioned in the company profile on Crunchbase.
Furthermore, the start-up has successfully registered a 50% month on month growth and as of February 2021, according to Economic Times India Times, Dealshare had recorded a Gross Monthly Value of INR 750 crore. The company currently caters to more than 3 million users and operates across 5 Indian states and in 25 cities across the country.
Vineet Rao, Chief Executive Officer and founder, Dealshare mentioned in a statement that the company has always been motivated to bring e-commerce experiences to the masses and the majority of Indian people. The company is primarily focused on lower and middle income population. He further added that since the company’s inception back in 2018, its vision is to address to the shopping needs of over 500 million internet users who are new to the digital world, providing them with the best quality products and experience at an affordable price range.
Furthermore, Vineet Rao says that the company intends to offer a gamified experience to its users while catering to their shopping needs and this latest fundraise is a boost to the company in that direction of progress, as mentioned in a report by Economic Times.