Fortifies its position as one of the fastest growing e-commerce marketplace in India
New Delhi, August 16, 2016: - Salebhai.com, an e-commerce platform for regional goods from across India that is representative of a culture, has received a major boost from Brand Capital of Times Group. The media conglomerate has come on board with a deal size of Rs 10 crore for a minority stake in the company.
The online portal, which operates on a back-to-roots philosophy, currently meets requirements of 17 diaspora communities by sourcing authentic and unique products from their native places. It offers sweets, namkeen, chocolates, bakery, spices, dry fruits, beverages, pickles, handicrafts, paintings, puja items, and herbal products from over 100 cities and 250 sellers.
Brand Capital has decided to back this portal considering the huge opportunity in solving a longstanding problem through an integrated platform and its range of curated products.
Commenting on the funding, Vishwa Vijay Singh, Co-founder, Salebhai.com said, “We are extremely delighted to have secured such significant funding from Brand Capital. I’m confident that our partnership with this esteemed establishment will help us expand our footprint and acquire more customers in India and abroad.”
Apart from Vishwa Vijay Singh – who looks after the company’s marketing and overall functioning, the company is also led by other enterprising co-founders, viz. Purba Kalita– who takes care of content and communications, and Pramod Rao– I.T. expert. Other key people within this company include – Anand Varani – who handles finances, and Gopal Shukla for channel management.
The start-up, which was in the news earlier this year for receiving investment from 12 high-Networth customers, is now reportedly ready to welcome its second batch of customers-turned-investors.