Just Buy Live, an online distribution platform connecting brands with retailers and small and medium enterprises, on 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.
Founded in March 2015, the startup 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, stated the firm’s media statement.
Commenting on the investment, Ali Cloud Investments chairman S.M. Ali 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.”
To facilitate transactions on its platform, Just Buy Live operates an unsecured credit lending platform for SMEs called Udhaar. With over Rs 100 crore in line for credit lending to various SMEs, this in-house fintech platform has the potential to grow 10x in the coming 24 months, said Sahil Sani, chairman & CEO of Just Buy Live. “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,” he added.