A mobile-first e-commerce platform Meesho has raised $3.1 million from investors led by SAIF Capital. It also saw the participation of existing investors like Y Combinator and Venture Highway. This brings the overall funding to $ 3.7 million. Apart from Y Combinator and Venture Highway, Meesho also raised $350,000 from some angel investors in convertible debt.

 

Hiring Tech and Business Operations Team

Meesho will use these funds to hire its tech and business operations team. The company is further planning to scale up its platform by bringing in more resellers through community engagement and referrals.

 

What does Meesho Do?

Meesho connects suppliers to reseller’s which largely includes housewives, who then use WhatsApp, Facebook and Instagram to promote these products within their social circles. Meesho has 20,000 resellers and more than 1,000 suppliers on its marketplace, mainly in the categories of fashion, lifestyle and home, and kitchen.

“We are building a new distribution channel for suppliers and helping housewives earn from within their social networks,” said CEO Vidit Aatrey.

 

Partnering with Third Party Logistics Players

Meesho has partnered with third party logistics players to enable deliveries. Meesho’s orders are fulfilled through cash on delivery, 25% through payment gateways, for which it has tied up with Razorpay, while the rest are done through mobile wallets.

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