10club raises $40 million in seed funding as Indian e-commerce aggregation business heats up

According to the Times of India, Indian e-commerce market aggregator 10club has received US $40 million in financing , which is also one of the largest seed rounds in the Indian market .

It’s not clear whether the round for 10club, a six-month-old Indian startup that’s a Thrasio-like company , also includes debt , which is popular among Thrasio-like companies , or if the entire amount was paid in one lump sum.

As we all know, digitally native brands often struggle to surpass certain revenue thresholds and growth platforms due to increased competition and lack of funding opportunities in the early stages. They lack the resources to invest in technology, marketing, optimization tools, supply chain expertise, and skilled human resources , which is where companies like Thrasio and 10club come in .

Thrasio acquires fast-growing online brands to build various products, while helping brands scale and develop their businesses through investments in technology, working capital and marketing efforts. Now many investors around the world have become interested in this emerging model and are betting on it.

Similarly, 10club, which has been established for half a year , also works with e-commerce sellers in India , acquiring their businesses and working with their teams to help them scale up. The e-commerce aggregation business in India is heating up, and one of the pioneers in this field is 10club .

It is reported that 10club will use the new funds raised to expand its brand portfolio, invest in building its technology stack and for team operations.

Bhavna Suresh, co-founder and CEO of 10club, said: “With our centralized platform model, in-house market experts, technology, processes and playbooks, 10club has achieved 10x growth for these businesses and helped them achieve scale.”

10club, which currently has a team of 20, including e-commerce personnel from companies such as Amazon, Flipkart, Udaan, Reliance and Coca-Cola, said it has engaged with hundreds of sellers in specific product categories and is currently focusing on working with select entrepreneurs to scale their businesses.

The company said it has also signed letters of intent worth $15 million and will move forward with operations at those locations in the coming weeks.

India

Financing

E-commerce