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DealShare, the hyperlocal ecommerce startup has raised Rs 70 crore of venture debt led by Alteria Capital, the venture debt fund. The startup is focussed on the mid-income demographic of 500 million new Internet users and has raised total capital of $34 million.
Speaking on the investment from Alteria, Sourjyendu Medda, (Cofounder), Dealshare said “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.”
Dealshare Founding team
The debt is expected to be utilized for expansion into several new markets as well as marketing purposes.
In December 2020 raised $21 million in Series C funding led by WestBridge Capital. The round also saw participation from Alpha Wave Incubation – a venture fund managed by Falcon Edge Capital, Z3Partners, and existing investors Matrix Partners India and Omidyar Network India. Several independent investors too participated in this round of funding.
The team is now looking at the next phase of its growth, which will include expanding to newer geographies, penetrating deeper into current markets, scaling operations, expanding local sourcing networks, and strengthening its technology platform across business verticals.
“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.
Alteria Capital is India’s largest Venture Debt provider with a corpus of Rs. 2300 Crore across two funds. Alteria recently raised commitments of Rs. 1325 crore from domestic investors for its second venture debt fund.
Alteria has backed companies like Rebel Foods, BharatPe, Lendingkart, Zestmoney, Dunzo, Portea, Toppr, Spinny, Stanza, Vogo, Melorra, Mfine, Generico, Loadshare, and many others. Alteria will effectively have over Rs. 4,000 Cr available for funding start-ups across Venture Debt and Structured Solutions.
