Dunzo, the Bangalore based hyperlocal delivery startup, has now secured $11 million debt funding round led by the Alteria Capital. The startup revealed that it would fuel its growth in profitable markets with the help of its debt Capital.
Kabeer Biswas, Co-Founder, and CEO, Dunzo, said: “From the early stages of Dunzo, we’ve always focused on building a sustainable business model. Profitability has always been the barometer of success, and we see it manifest across several of our micro-markets. As we deploy this playbook into other cities, we’re extremely conscious of what our consumers want.”
“Our aim is to keep building exceptional customer experiences for our merchants, delivery partners, and users with the most efficient logistics solution in the world. In this journey, as markets turn profitable, we are able to fuel our growth with debt while having a significantly higher return on investment for customers and stakeholders,” Kabeer said.
The company which is founded by the Mukund, Dalvir, Kabeer, and Ankur. Dunzo does ver the two million transactions in a month and has a retention rate of 80-85%. The number of tasks on the platform has even shot up by 62%.
