Y Combinator alum Meesho, one of several “social selling” startups gaining hurrying in India, will compute more pieces to its e-commerce programme after shutting a $11.5 million Series B led by Sequoia India. Dwelling investors SAIF Collaborator, Y Combinator and Venture Highway also recalled for the round, which wreaks the Bangalore-based startup’s total funding so far to $15 million. Its last round of financing, a $3.4 million Series A, was announced last October.
Like social selling contestants including GlowRoad and Zepo, Meesho’s prototype blends dropshipping from its wholesale spouses with a complete suite of e-commerce tools and services. This reduces overhead while offsetting it easy for dealers, who Meesho suggests includes many homemakers, both students and retirees, to set up an online business through WhatsApp, Facebook and other social media.
Meesho’s implements include an online scaffold that allows sellers to finagle acquisitions and process payments, as well as a network of wholesale suppliers( its main categories are currently style and lifestyle entries) and logistics providers. In other commands, it offers almost everything its marketers need to start selling online. This leaves vendors held liable for patron buy, picking what items they want to include in their online stores and marketing them.
This reselling model petitions to tiny places, as well as individuals, who wish to spawn more coin but don’t demand the overhead of setting up an e-commerce business from scratch and carrying inventory. Meesho’s challengers include e-commerce startups like GlowRoad, Shopmatic and Zepo, which have also recently heightened massive fund rounds. All of these companies lure dealers by offering a significant amount of help with seek control, payment processing, fulfillment and logistics.
In order to differentiate, chief operating officer Vidit Aatrey, who co-founded Meesho in 2015 with Sanjeev Barnwal, its principal engineering detective, tells TechCrunch it focuses on product quality, pricing and personalization to help resellers improve their marketings and customer services. Meesho claims that more than 800,000 resellers have exploited its scaffold and that a “typical” reseller earns between 20,000 to 25,000 rupees per month( about $298 to $373 ).
In a press statement about the funding, Sequoia India managing director Mohit Bhatnagar mentioned ” Social industry is the future of e-commerce in India. People buy from people they rely, and that’s what Meesho allows. Inventors, many of them women, use the Meesho platform to recommend, customize and sell to their family and friends. Social selling is a huge direction and Sequoia India is aroused to partner with Meesho, which is the early ruler in this cavity .”
Aatrey enunciates Meesho’s Series B fund will enable it to hire more beings for its tech and produce units in order to build a collection of brand-new patron buy and selling implements. The startup too plans to add more personalization an opportunity for its resellers and product categories.