DealShare bags $144 million, targets international expansion
By MYBRANDBOOK
DealShare has raised $144 million in a new financing round as it looks to expand its presence in the South Asian market and eye opportunities in international markets. The new financing round, a Series D, was led by Tiger Global and valued the Indian startup at $455 million (post-money), up from the pre-money valuation of $50 million in Series C.
WestBridge Capital, Alpha Wave Incubation (a venture fund backed by ADQ, and managed by Falcon Edge Capital), Z3Partners, Partners of DST Global and Alteria Capital also participated in the new round, third in the last seven months and which brings the startup’s to-date raise to $183 million.
DealShare is attempting to reach consumers in smaller Indian cities and towns. The startup says customers on its platform buy curated items in groups, which makes purchases “highly competitive” in affordability. The average cart size on DealShare is between $16 to $19.
The startup offers “high-quality, low-priced essentials coupled with a gamified, fun and virality-driven vernacular shopping experience that makes it easy for first-time internet users to experience online shopping,” its executives said.
“We plan to strengthen our network further and increase it to 5,000+ by this year. Along with this, we are planning to fuel the growth by building state-of-the-art technology and infrastructure-related assets, which will ensure efficiency,” said Sankar Bora, Founder and Chief Operation Officer, DealShare.
DealShare expects to break even in the next 12 months and will also expand to international markets, said Navroz Udwadia, Co-Founder and Chief Executive of Falcon Edge Capital. The expansion will start with the UAE.
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