13th September 2021, Mumbai:
Mumbai-based social e-commerce start-up Coutloot plans to expand its B2B supply chain and step up hiring across verticals including tech, marketing and leadership roles. The company has raised $8 million (Rs 58 crore) in pre-series funding round led by venture capital firm Ameba Capital for this expansion.
The funding round was attended by investors including SOSV, 9Unicorns, Astarc Ventures and Venture Catalysts.
Kevin Wang, Managing Partner, Ameba Capital says, Coutloot has best addressed the needs from the rising consumption of 500 million-plus Tier II, III Indian population, by converging online and offline retail. Jasmeet Thind, Co-founder and CEO adds the company gives sellers and buyers the power to decide prices after a bargain on the chat. Founded by Jasmeet Thind and Mahima Kaul, Coutloot provides business opportunities to over 500,000 offline retailers, mom-and-pop stores, home sellers, and street hawkers.
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