Social commerce startup, Dealshare has raised ₹70 crore in venture debt from Alteria Capital, as it looks to boost its expansion across new markets.
The startup, which is reportedly in talks to raise $100 million from Tiger Global, works on a community shopping model, offering deals and discounts for bulk purchases of daily essentials.
Dealshare had raised close to ₹150 crores in equity funding from Westbridge Capital, Alpha Wave Incubation in December last year. Till date, the company has raised a total of $34 million in equity funding.
“We have seen tremendous growth in the last few years as we marched forward in our mission to cater to 500 million new-to-internet users. We are very happy to partner with Alteria Capital as they share a common vision and this capital will help us boost our progress in the right direction,” said Sourjyendu Medda, co-founder, Dealshare.
Earlier in March, this year, the company had also raised close to ₹25 crore in debt funding from Innoven Capital.
“We believe Dealshare is poised well to play a pivotal role in bringing e-commerce to the masses in India to serve their recurring shopping needs. The company also empowers regional brands to participate in the e-commerce revolution and connect directly to the end consumer. We are very excited to partner with the team as they unlock their next phase of growth.” said Ankit Agarwal, Partner, Alteria Capital.
Earlier this month, Alteria Capital announced the first close of its second fund at ₹1,325 crore, from domestic investors, in a bid to ramp up investments in early-stage companies.
The company had received approval from Securities and Exchange Board of India (SEBI) in December 2020 for its second venture debt fund with a target corpus of ₹1,000 crore and a greenshoe option of ₹750 crore.
At present, Alteria Capital manages ₹2,300 crore of assets under management across its two funds.
Further, the firm’s portfolio includes startups such as – Rebel Foods, BharatPe, Lendingkart, Zestmoney, Dunzo, Portea, Toppr, Vogo, amongst others.
