[Funding alert] QuickSell raises $2M in pre-Series A round led by InfoEdge Venture Fund, BEENEXT
The mobile commerce suite platform QuickSell has raised $2 million as a part of itsr pre-Series A funding round. The round was led by InfoEdge Venture Fund and BEENEXT. This investment will primarily be used for scaling the business, team expansion, and product enhancements.
Deepak Bhagchandani, Founder and CEO, QuickSell said in a press statement shared by the company,
“We are a design-focused company and through QuickSell we want to bring great design to tools that SMBs can use every day to run their business. When merchants see our product for the first time, they feel like it’s made specially for them."
He added when a product is able to evoke strong positive emotions from people, word of mouth follows naturally - which has led the team to have a global customer base in 100+ countries without any marketing spend.
"Using QuickSell, our users are able to grow, engage, retain, and monetise their customer base effectively through the ease of their mobile phone. We are grateful to have partners like InfoEdge and BEENEXT who believe in our vision to fundamentally change the way SMBs do business," added Deepak.
Founded in 2017, the startup is designed to enable small businesses owners to sell online and offline faster by giving them the ability to curate catalogues as well as live track user behaviour, thereby enhancing a customer’s overall experience in real-time.
The company stated that QuickSell has over 600,000 organic users across 100+ countries through their industry-first and one-of-a-kind personal commerce suite.
Amit Behl, Partner, InfoEdge Venture Fund said, “As omnichannel becomes a norm, we expect trade partners like wholesalers, stockists and resellers to embrace digital platforms and continue to play a vital part in supply chains. QuickSell’s mobile-first platform focuses on specific requirements of this target segment and as these B2 B merchants start using digital tools to manage their day to day business, they become an attractive market opportunity for DIY platforms like Quicksell to pursue.”
The company added that the pandemic has severely affected several SMBs and a large portion of them were eager or compelled to make the transition to selling online.
The team explained that QuickSell has been able to help small business owners sustain their business amidst recent market disruptions. It primarily caters to SMBs selling different types of visual and design-oriented products like jewellery, clothing, handicrafts, home decor, etc, enabling owners to sell via their mobile.
“As a VC, we are always looking to work with founders who are focused on product-led transformation in their target segments. QuickSell is bridging the missing link in the SMB story. What stands out most about QuickSell is their focus on improving retention through building a great user experience for their end customers," said Chinmaya Saxena, Venture Partner, BEENEXT
He added this approach is empowering small biz owners to engage their customers like never before by giving them enterprise-level capabilities through personalised catalogues at hyper-scale.
"We believe that in the digitisation journey of commerce for SMBs, QuickSell will define new standards for user engagement and retention for millions of businesses across the world,” said Chinmaya.