DealShare Raises $100M in Series D Funding Led by Tiger
DealShare, an Indian social commerce startup initially focused on WhatsApp, has raised $100 million in Series D funding led by Tiger Global, according to sources [1]. The investment round also saw participation from private equity firm Stalwart and existing investor Vertex Ventures. DealShare is a social commerce platform that connects local merchants with consumers, enabling them to buy and sell products at wholesale prices.
This latest funding round comes after the company raised $21 million in Series C funding in December 2020 [1]. With this new investment, DealShare plans to expand its operations to more cities in India and strengthen its supply chain network. The company also aims to enhance its technology infrastructure and improve its customer experience.
DealShare’s Focus on WhatsApp
DealShare initially focused on using WhatsApp to connect with customers and merchants, allowing them to place orders and make payments through the messaging app [1]. The company has since expanded to other social media platforms and its own mobile app. However, WhatsApp remains a crucial part of its business model, with the company claiming that it has over 100 million users in India [2].
WhatsApp has been actively working to expand its reach in India, which is its largest market [2]. The messaging app launched a payment service in the country in November 2020, allowing users to send and receive money through the app. It also launched a business app in 2018, which enables small businesses to connect with customers and manage their orders.
The Rise of Social Commerce in India
Social commerce has been gaining traction in India, with companies like DealShare, Meesho, and GlowRoad leading the way [3]. These platforms allow small businesses and individuals to sell products directly to consumers through social media platforms like WhatsApp, Facebook, and Instagram.
The COVID-19 pandemic has accelerated the adoption of social commerce in India, as more people turn to online shopping to avoid crowded markets and stores [3]. The rise of social media usage in the country has also contributed to the growth of social commerce, as more people use these platforms to connect with friends and family.
The Future of DealShare and Social Commerce in India
With this new funding, DealShare is well-positioned to expand its operations and take advantage of the growing demand for social commerce in India. The company’s focus on WhatsApp and other social media platforms has helped it build a loyal customer base, and its emphasis on providing high-quality products at affordable prices has made it a popular choice for consumers.
As social commerce continues to grow in India, we can expect to see more startups like DealShare emerge, offering innovative solutions to connect local merchants with consumers. With the support of investors like Tiger Global, these companies have the potential to transform the Indian e-commerce landscape and create new opportunities for small businesses and entrepreneurs.
Conclusion
DealShare’s latest funding round is a testament to the growing demand for social commerce in India and the company’s ability to provide innovative solutions to connect local merchants with consumers. With this new investment, DealShare is well-positioned to expand its operations and take advantage of the opportunities presented by the rise of social media and online shopping in India. As social commerce continues to grow, we can expect to see more startups like DealShare emerge, transforming the Indian e-commerce landscape and creating new opportunities for small businesses and entrepreneurs.
