‘Just Buy Live’ raises $100 mn
E- Distribution company Just Buy live recently announced that it has raised $100 million (Rs 640 crore) in Series B funding from Dubaibased investment banking firm Ali Cloud Investment. The company will use the funds to expand into international markets with SME’S and fragmented distribution, and to consolidate and grow Indian operations.
Launched in March 2015, Just Buy Live follows a brand-to-retail business model wherein retailers buy goods directly from brands. It has aggregated brands such as Apple, Xiaomi, Samsung, Micromax, YU Mobiles, Oppo, Patanjali, ITC, P&G, Unilever, Coca-Cola, Pepsico, Amul and Nestlé on a single plat- form.
“Just Buy Live is now ready for global expansion… we will quickly move to enter new markets with strong local partners.” said SM Ali, chairman of Ali Cloud.
In September 2016, citing Just Buy Live chairman and CEO Sahil Sani, that the company was seeking to raise $30-50 million and looking to hire an investment banker to tap finan- cial and strategic investors. It had risen $20 million (around Rs 136 crore then) in Series A funding from Alpha Capital in January 2016.
The Just Buy app is used by retail outlets, from paanwallas and kiranas to supermarkets, chemists, mobile stores and electronic shops. As of September 2016, the app hosted over 5