SAAS Startup Raising Funds For Expansion In Bhubaneshwar
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The organization in question is addressing the challenge of limited online accessibility in 95% of Indian cities. Their objective is to empower small and medium-sized businesses to participate in e-commerce and strengthen their online presence among local consumers. Their SaaS solution "VINKEL" is aimed at Tier II and III cities, benefiting both consumers and merchants.
Clientele type
Their clientele comprises local small and medium-sized merchants, as well as direct customers who benefit from their services.
Premises
LEASED
Lease per month (in INR): 17,000
Security Deposit (in INR): 34,000
Carpet Area: 1,450 sq ft
The Premise is located in a residential area in the eastern part of Bhubaneswar, India.
Asking Price Includes
The terms of the transaction will be discussed with the potential investors.
They are open for multiple investors with a minimum token size of 3 lakhs.
Reason
They seek funding to support their expansion plans, including the hiring of additional staff, onboarding more businesses, and enhancing their delivery network.
Other Details
They employ a variety of revenue models, including income from delivery charges, platform fees levied on merchants, and rental or subscription models for merchants. Moreover, they are actively developing two additional revenue streams, namely promotion costs and charges from customers, which are currently in the pipeline.
The business has been operational since January 2023.
Currently, the platform has 1,200 registered merchants and a customer base of 1,500, with a daily volume of 100 transactions taking place.
Their operations extend across three cities: Bhubaneswar, Cuttack, and Rourkela.
They maintain an in-house team of 10 professionals, covering various roles such as administration, management, accounts, and technology. Additionally, they have a field team consisting of 13 delivery executives, who work on a part-time basis.
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₹10 to ₹200 Cr
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