Bengaluru-based GlowRoad, a women-centric C2C (customer-to-customer) reseller network, has raised $2 million in its Series-A funding round from Accel Partners.
Claimed to be India’s largest reseller network operating in the C2C business domain, the startup will use the proceeds to scale up and enhance its technology, reports ET.
If you are a woman entrepreneur, you can use the GlowRoad’s platform to build a reseller network, collect payments for sale made through any channel (online or offline modes) – be it Facebook, WhatsApp or events and exhibitions, get updates on upcoming stall events in your city and explore many more features.
Earlier known as LocalQueen.com, the platform was run by group of IITians and IIM grads before being acqui-hired two months ago by Dr Sonal Verma, who rechristened it as GlowRoad.com.
GlowRoad empowers women by helping them earn from home in a secure system with zero investment, while manufacturers and suppliers get a national sales network virtually free.
Currently, it has 100,000 registered members, out of which 36,000 are active women resellers.
“GlowRoad is the first startup to get VC funds in C2C space in India. As consumers become more internet aware even in tier-II and tier-III cities, C2C is going to become a popular way of doing business,“ said Shekhar Sahu, board advisor to GlowRoad.
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Investors feel that GlowRoad can become large enough to become a significant player in the ecommerce market, like Koudai in China which is backed by Alibaba rival Tencent.
With the growing internet and retail market, Indian housewives are increasingly using social media like Facebook and Whatsapp to take advantage of the e-commerce rise and reach customers. As many as 2 million online women resellers are doing business of various lifestyle and clothing products on these platforms, says a report by consulting firm Zinnov in possession with Entrackr.