Just Buy Live, a Mumbai-based online distribution platform that connects brands with retailers and SMEs, has raised Series B funding round worth around ₹640 crore ($100 million). The funding comes from Dubai-based Ali Cloud Investments.
The company will use the incoming money for the expansion of its business into international markets that have high SME density and fragmented distribution. It is also going to spend money on expanding its business within India as well.
In a statement released by the company, it said:
Just Buy Live utilizes a cutting-edge mobile application with intuitive interfaces and user-friendly features to democratize product access for its customer base consisting of retailers and SMEs. The company’s robust technology platform potentially makes almost every unit of physical stock from all listed brands, available to every shop in every zip code directly in real time.
S.M. Ali, chairman of Ali Cloud Investments, said,
Just Buy Live is now ready for global expansion to every country and developing market that can benefit from this platform and we will move quickly to enter new markets with strong local partners.
Just Buy Live, founded in March 2015 by Sahil Sani and Bharat Balachandran, is an e-distributor platform that connects shopkeepers with consumer brands and distributors.
To facilitate transactions on its platform, the company also operates an unsecured credit lending platform for SMEs called Udhaar. The company claims to have over 100 crores in line for credit lending and further says that it has the potential to grow 10x in the coming 24 months.
The Just Buy app is being used by retail outlets of various sizes — from very small such as paan wallas to to large organized stores such as supermarkets. As per the company, the app hosts over 500,000 products from 2,600 brands across categories like foods, drinks, personal care, auto, mobile, tech, home, fashion, toys, sports, stationery and others.