Creator-led commerce startup Wishlink is in advanced stage of raising $7 million in a new round, sources aware of the development told Entrackr. The new fundraise for the Bengaluru-based company will come after 13-14 months.
“Fundamentum is leading the new round along with participation of existing backer Elevation Capital,” said one of the sources requesting anonymity. The terms of the deal have been sealed and money is likely to come in soon.”
Elevation led a $3 million seed round in the Wishlink in October last year. Several high profile angels including Vidit Aatrey, Sanjeev Barnwal, Rahul Chaudhary, Ankush Sachdeva, and Ghazal Alagh, also participated in its maiden funding round.
Founded by Chandan Yadav, Shaurya Gupta and Divyansh Ameta, Wishlink is enabling creators across social media platforms to drive commerce for brands via their personalized multi-brand storefronts. The platform has created a tech stack to drive creators from social media to brands’ websites, helping them acquire customers.
It claims to help over 60 brands like H&M, Westside, Faballey, Indya, Aurelia, Wrogn, Libas, GOAT Brand Labs, Amazon, Flipkart and Ajio to boost sales. Wishlink directly or indirectly competes with Peepul Tree, HYPD Store, and Redesyn, among others.
As per sources, Wishlink will be valued at around $35-40 million post money.
Queries sent to Wishlink, Fundamentum and Elevation did not elicit any response. We’ll update the post in case they do.
In April 2022, Elevation announced its eighth fund worth $670 million. Since then, it has backed Rigi, SolarSquare, Mesa School, Atlys, Headfone, Everstage, Skydo, and CashFlo, among others. Backed by Nandan Nilekani, Fundamentum Partnership also announced a $227 million fund last year to back early growth stage startups. It has invested in startups such as Spinny, PharmEasy, Kuku FM, and FarEye et al.