Mall91 set to acquire StompMarket to empower its sellers with ERP solutions
With this acquisition, StompMarket will extend its robust tools and technologies to Mall91, allowing it to deploy high-quality ERP solutions and improving efficiencies for its sellers.
Noida-based Mall91, a social commerce platform for vernacular users across Tier-II, III, IV, V cities, is set to acquire an ERP solutions provider StompMarket in a cash-and-stock deal.
Through this acquisition, Mall91 said it aims to empower its seller community with StompMarket’s state-of-the-art solutions including cloud-based inventory management, cross-channel selling support, procurement, order fulfillment, warehouse management, and more.
Nitin Gupta, Founder and CEO, Mall91, said,
“With its strong co-founder team and tech-backed solutions, StompMarket is well-positioned to aid Mall91 in its push towards creating a holistic seller ecosystem. This acquisition will help us elevate the efficiency of running their business powered by technology that we extend to our sellers. We are thrilled to have StompMarket team on board and believe that this acquisition will help Mall91 optimise seller operations and scale up its market footprint across India.”
[Funding alert] Vernacular social commerce platform Mall91 raises Series A of $7.5M led by Go-Ventures
Positioned as a global sales engine, StompMarket already manages day-to-day operations for several leading enterprises in India. It manages lakhs of orders per day for a barrage of large online sellers. With this acquisition, StompMarket will extend its robust tools and technologies to Mall91, allowing it to deploy high-quality ERP solutions and improving efficiencies for its sellers.
IIT Roorkee graduates Anshul Bansal, CEO, and Anshul Verma, COO, Stomp Market, said,
“As India’s leading social commerce platform, Mall91 shares our customer-centric ideals and dedication towards empowering individuals and enterprises using innovative technologies. We aim to offer superior cataloging, channel management, inventory management, and warehouse management solutions to the company, considerably enhancing its value proposition. Having partnered with Mall91, we will also be able to gain a 360-degree view of the Indian retail landscape, instead of simply being a back-end solutions provider.”
Started in 2018 by Nitin Raj Gupta and Shubham Paramhans, Mall91, in October 2019, secured its Series A funding round of $7.5 million led by Go-Ventures, the investment arm of ride-hailing firm GoJek, with participation from existing investors Beenext, Kalaari Capital, and AngelList India. The company claims that it has already reached to 2,000+ Tier-II, III and IV towns and villages of India by enabling their life's first ecommerce transaction.
(Edited by Evelyn Ratnakumar)
[Funding alert] After raising $10M in April, social commerce startup GlowRoad now bags $11.5M in Series B+ round