B2B Wholesale Platform ApnaKlub raises additional $6 Mn in funding led by Flourish Ventures, others

• ByStartupStory     |    January 12, 2023

Apnaklub, a B2B wholesale platform, has raised an additional $6 million in funding from TrueScale Capital and ICMG Partners, with participation from Flourish Ventures, Sequoia India’s Surge, Blume Ventures, and Whiteboard Capital. ApnaKlub previously raised $10 million from Tiger Global in late 2022, bringing the total funding in the round to $16 million.

According to a press release, the Bengaluru-based company will use the new funds to improve a digital platform for Kirana store owners and wholesalers in tier 2 and tier 3 cities to purchase goods and services.

ApnaKlub has so far raised $20 million. Previously, in August 2021, it raised $3.5 million from Sequoia Capital India’s accelerator program Surge, as well as seed capital from Blume Ventures and Whiteboard Capital.

Apnaklub, founded in 2019 in Bengaluru by Shruti and Manish Kumar, connects retailers and kirana stores, as well as fast-moving consumer goods (FMCG) brands, through its wholesale partners. The company has established an independent sales network for brands seeking to establish a presence in semi-urban and rural areas.

The company claims to have processed over 2 lakh orders, onboarded, and transacted with over 33,000 partners, all while minimizing burn.

ElasticRun, DealShare, ShopKirana, and Udaan are competitors of ApnaKlub. ElasticRun raised $300 million in February last year at a valuation of $1.4 billion, while DealShare raised $175 million around the same time at a valuation of around $2 billion.

ShopKirana received $38 million in Series C funding in January of last year, while Udaan has raised back-to-back debt rounds.

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