BackShopClues raises $10 mn
ShopClues.com raised capital from Helion Venture Partners and existing investor Nexus Venture Partners
Premium(Hemant Mishra/ Mint )
Mumbai: Online shopping mall ShopClues.com has raised nearly $10 million from Helion Venture Partners and existing investor Nexus Venture Partners in its third round of funding.
With this, ShopClues.com has so far raised more than $15 million in capital.
The company said gross revenue transacted on its platform rose nearly 110 times over the 12 months to February.
“At least a third of the 30 million small and medium businesses will benefit from the visibility and marketplace that we offer, albeit at lower transactional costs than doing it alone, all by themselves," Sandeep Aggarwal, founder and chief executive of ShopClues.com, said in a statement.
“We believe that the time is ripe for smaller business to jump onto the online retail bandwagon, given the deep entrenchment of online shopping among Indian consumers," said Sanjeev Aggarwal, senior managing director at Helion Venture Partners.
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