Creator-focused commerce startup Wishlink has raised $7 million from The Fundamentum Partnership Fund and Elevation Capital. The fresh investment has come after a gap of 15 months for the Bengaluru-based company.
The board at Wishlink has passed a special resolution to issue 12,945 Series A CCPS at an issue price of Rs 44,882 each to raise Rs 58.1 crore, its regulatory filing accessed from the Registrar of Companies shows.
According to the startup data intelligence platform TheKredible, the company has been valued at around $30 million (post-allotment).
Entrackr was the first to report about this round in November 2023. Including this, the company has raised over $10 million to date.
Following the fresh proceeds, Elevation Capital became the largest external stakeholder with 22.93% followed by The Fundamentum Partnership Fund which commands 13.55% of the company.
Founded by Chandan Yadav, Shaurya Gupta, and Divyansh Ameta, Wishlink enables 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 and Flipkart et al.
Wishlink closed its seed round of $3 million in October 2022 led by Elevation Capital and several high-profile angels including Vidit Aatrey, Sanjeev Barnwal, Rahul Chaudhary, Ankush Sachdeva, and Ghazal Alagh.
During the fiscal ending March 2023, Wishlink posted a revenue of Rs 1.42 crore while its losses stood at Rs 6.67 crore. It directly or indirectly competes with Peepul Tree, HYPD Store, and Redesyn, among others.
