DealShare raises $100M Series D led by Tiger Global
DealShare, an Indian social commerce startup initially focused on WhatsApp, has raised $100 million in a Series D funding round led by Tiger Global, after its $21 million Series C in December 2020 [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.
According to sources, WhatsApp led the investment round, indicating the messaging app’s growing interest in the Indian e-commerce market [2]. The company announced that WhatsApp now has over 100 million users in the country, making it the largest market for the app. This achievement comes after WhatsApp launched a series of initiatives to expand its reach in India, including the launch of a payment service and a business app [2].
DealShare’s unique approach to social commerce
DealShare’s unique approach to social commerce has helped it gain popularity among middle- and lower-income consumers in India. The platform allows users to browse through a range of products, including groceries, electronics, and fashion items, and purchase them at discounted prices. The company’s focus on local merchants has also helped it build a loyal customer base in smaller cities and towns across India [1].
DealShare’s success in India’s e-commerce market can be attributed to its ability to cater to the needs of consumers who are looking for affordable and high-quality products. The platform’s user-friendly interface and seamless payment options have also helped it gain traction among consumers who are new to online shopping [3].
The future of social commerce in India
The Indian e-commerce market is expected to grow significantly in the coming years, driven by increasing internet penetration and rising consumer demand for online shopping. Social commerce is expected to play a crucial role in this growth, as more consumers turn to social media platforms to discover and purchase products [4].
DealShare’s recent funding round is a testament to the growing interest in social commerce in India. The company plans to use the funds to expand its operations and reach more consumers across the country. With WhatsApp’s backing, DealShare is well-positioned to take advantage of the messaging app’s vast user base and expand its reach in the Indian e-commerce market [1].
Conclusion
DealShare’s recent funding round is a significant milestone for the company and the Indian e-commerce market as a whole. The platform’s unique approach to social commerce has helped it gain popularity among middle- and lower-income consumers in India, and its focus on local merchants has helped it build a loyal customer base in smaller cities and towns across the country. With WhatsApp’s backing, DealShare is well-positioned to expand its operations and reach more consumers in the coming years.
