ApnaKlub, a Bangaluru, India-based provider of a FMCG wholesale platform, raised $10M in Series A funding.
The round was led by Tiger Global.
The company intends to use the funds to deepen infrastructure in key states, expand the platform from 5000 to 20,000 partners into underserved Indian communities, and build out the credit product.
ApnaKlub allows anyone with a smartphone to earn supplemental income by aggregating demand and supplying FMCG goods to retail (kirana) stores in their local community. The company takes care of order aggregation, transport, inventory handling and provides a zero capital model.
ApnaKlub was incubated with Whiteboard Capital in 2020 by Shruti Shruti and Manish Kumar, who come with strong complementary backgrounds across product, strategy and FMCG distribution. Shruti is a Gold Medallist from IIT Delhi and an MBA from Harvard business school with professional work experience at Bain & Omidyar. Manish comes with intensive experience in retail & FMCG having held leadership roles at Walmart India, Metro Cash & Carry and Future Group.