Just Buy Live raises $100 million from Dubai-based Ali Cloud Investments1 min read . Updated: 24 Aug 2017, 09:43 PM IST
Just Buy Live will use the money mostly for expansion into international markets that have high SME density and fragmented distribution as well as consolidating and growing the existing Indian operations
Mumbai: Just Buy Live, an online distribution platform connecting brands with retailers and small and medium enterprises, Thursday said it has raised a Series-B round of $100 million from Ali Cloud Investments, a Dubai-based boutique investment firm.
The money will be used mostly for expansion into international markets that have high SME density and fragmented distribution as well as consolidating and growing the existing Indian operations.
“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," the statement said.
Last year, Just Buy Live raised $20 million in its Series-A round of fundraising from Alpha Capital, Mint reported. The company was founded by Sahil Sani in March 2015.
“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," said S.M. Ali, chairman of Ali Cloud Investments.
To facilitate transactions on its platform, Just Buy Live operates an unsecured credit lending platform for SMEs called Udhaar. With over 100 crores in line for credit lending, this in-house fintech platform has the potential to grow 10x in the coming 24 months, the company said.
“Our India business is already matured and close to profitability and our tech is now scalable and robust enough to be opened up to the world," said Sahil Sani, chairman and chief executive officer Just Buy Live.