Coutloot plans to use it to launch more services for retailers, such as working capital solutions, video-story commerce features, scale-up B2B supply chains, and across verticals including technology, marketing and leadership roles. furthering the hiring activities, the company said in a statement.
The company is planning to raise another Rs 180 crore.
“Most commerce still happens offline for a variety of reasons, including low trust and bargaining. cutloot With that power helps sellers and buyers to fix prices after bargaining on chat. We as Taobao of India are striving to make Coutloot one of the most compelling e-commerce success stories across the globe,” said Coutloot, Co-Founder and CEO Jasmeet Thind said in the statement.
The company claims to have grown 11 times during the pandemic and is growing at a compound annual growth rate of 300% over the past three years.
Considering the growing demand from smaller towns, Coutloot is looking for a Rs 1,000 crore GMV platform in 2022.
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Founded in 2016, Coutloot is a platform that allows buyers and sellers to strike a bargain while shopping. Vendors on the platform can list non-branded local market products in fashion, electronics, home decor, sports and other boxed categories that currently account for 75% of India’s retail sector.
“Coutloot has met the growing consumption needs of over 500 million Tier 2, 3 Indian population by combining online and offline retail.
“The fast-paced 4G mobile rollout in the country is a reflection of successes like what happened in China, such as Taobao, Tmall, and Pinduoduo or even TikTok,” said Amoeba Capital, managing partner of Amoeba Capital. which will create interactive social commerce supported in India’s vernacular languages.” Kevin Wang | said.