ApnaKlub, an FMCG wholesale platform for low population density areas, revealed on Thursday that Tiger Global has invested $10 million in its Series A round. In August 2021, they raised $4 million from Sequoia India’s Surge, Blume Ventures, Whiteboard Capital, and Flourish Ventures.
The Bengaluru-based firm, founded in 2020 by HBS alumni Shruti and Manish Kumar, aims to disrupt India’s existing wholesale FMCG distribution structure with its reseller-led B2B network for retailers and wholesalers in tier II and tier III areas. A user can utilise ApnaKlub to digitise their wholesale business as a rural wholesaler or extend their shopkeeping operation.
The money will be used to improve infrastructure in critical states, grow the platform from 5000 to 20,000 partners, and develop a credit product, according to an official release.