10club Raises $40M In Seed Round To Roll Up Ecommerce Manufacturers
- ByStartupStory | June 29, 2021
Bengaluru–based 10club, one of the early movers in the ecommerce roll-up space, has raised $40 million in seed funding. The funding round was co-led by Fireside Ventures and an international investor active in the space. The round also saw participation from PDS international, Class 5 Global, Secocha Ventures led by Sanket Parekh, HeyDay, a player in the roll up space, Boat founders Aman Gupta and Sameer Mehta (in their individual capacity) and several other global strategic investors.
The company claims that it partners with ecommerce product sellers in India by acquiring their businesses and working with their teams to help them grow 10x in size. With its centralized platform model featuring market experts in-house, tech, processes, and playbooks, 10club unlocks growth for these businesses and helps them achieve scale. The company is co-founded by Bhavna Suresh, former CEO of Lamudi; Deepak Nair, former Co-founder of 22feet; and Joel Ayala, Co-founder of VC firm Class 5 Global. The 10club’s 20 members of team, work with hundreds of sellers across specific product categories to understand the motivations, challenges, and opportunities that exist in the market. The company takes a collaborative approach to structuring deal structures that also allows the entrepreneur to see their business achieve growth velocity. It is now focusing on working with selected entrepreneurs and helping them to grow their business. The firm has also signed LOIs worth $15 million, and will push to operate these businesses in the coming weeks.
Bhavna Suresh, Co-founder and CEO, 10club said, “We have already built our foundational pillars of the centralized platform with a strong leadership team, a partner ecosystem and an operational playbook to deliver high performance. The potential to catalyze the entrepreneur, scale their business and thereby build a formidable portfolio under the 10club umbrella is immense. This funding will enable us to expand our portfolio and bring about transformational changes for the businesses we acquire.”
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