Funding Alert

Social Commerce Platform DealShare Raises $144 Million From Tiger Global And Others

• ByStartupStory     |    July 9, 2021

Social commerce platform DealShare raises $144 million from Tiger Global and others, and raised it’s valuation to $455 million. Apart from Tiger Global the funding was led by WestBridge Capital, Alpha Wave Incubation and Z3Partners. It also included partners of DST Global, Matrix Partners India, and Alteria Capital. A total of $183 million was raised so far in this funding round. The company plans to use the funds to expand its operations, invest in technology and build its team. In addition, the company is exploring acquisitions of early-stage startups in the social and gamification space, logistics and operation, said co-founder Vineet Rao. DealShare mostly focuses on community purchasal of essentials in Tier II and Tier III cities. 

With this acquired funding, they plan to double their staff to 1800 by this year to ensure smooth running of the company. They presently have 20 warehouses across 5 states, which they hope to increase to 200 across 10 states. In FY21, we grew 5X to reach a $200 million GMV (gross merchandise value) run rate,” said Sourjyendu Medda, co-founder of DealShare. “In just two years, we have serviced more than 3 million consumers and over 20 million orders. We are confident of hitting a $1 billion GMV run rate by the end of the year and building a 10-million-strong customer base.”“We are excited to partner with DealShare as they grow the Indian e-commerce market,” Griffin Schroeder, partner at Tiger Global, said in a statement. “DealShare’s unique approach combines discovery-led social sharing, group buying, and a gamified shopping experience with a simple consumer interface.

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