Just Buy Live, a Mumbai-based e-distributor that connects local retailers with manufacturers has raised $100 million in Series-B round of from Ali Cloud Investment, a Dubai-based boutique investment firm.
The firm, founded in 2015 by Sahil Sani and Bharat Balachandran, will be used the latest proceeds for expansion into international markets that have high SME density and fragmented distribution as well as consolidating and growing the existing Indian operations.
“Just Buy Live is now ready for global expansion to every country and developing market that can benefit from this platform and we will move quickly to enter new markets with strong local partners,” said S.M. Ali, chairman of Ali Cloud Investment.
With collaboration with Religare Finvest Limited, Just Buy Live operates an unsecured credit lending platform for SMEs called Udhaar. With over 100 crores in line for credit lending, this in-house fintech platform has the potential to grow 10x in the next two years.
Claimed as India’s first credit deployment product app for MSMEs, which lends to people who have never had access to a banking line like paanwaalas or grocers. The company had also rolled out a television advertisement campaign to build the brand and to create awareness among the small retailers.
“Our India business is already matured and close to profitability and our tech is now scalable and robust enough to be opened up to the world,” said Sahil Sani, chairman and CEO Just Buy Live.
The B2R (brand-to-retail) firm has aggregated brands such Apple, Xiaomi, Samsung, Micromax, YU Mobiles, Oppo, Patanjali, ITC, P&G, Unilever, Coca Cola, Pepsico, Amul and Nestlé on its platform for the retailers to place order directly.
According to IBEF (India Brand Equity Foundation) report, the Indian retail industry is one of the fastest growing in the world. The retail industry in India is expected to grow to US$ 1.3 trillion by 2020, registering a Compound Annual Growth Rate (CAGR) of 16.7 per cent over 2015-20.
Just Buy Live: Website