Mumbai-based e-commerce SaaS platform, Zepo has secured an undisclosed amount of funding from the CEO of People Group, Anupam Mittal, with participation from One 97 Mobility Fund. As a part of the deal, Anupam will join the Zepo’s board of directors.
As per a YourStory report, the new funds will be used for strengthening its base in the current markets as well as to explore new overseas markets by expanding its current sales team from 20 across three cities to 100 across four cities in the next one year. Recently, the firm had received USD 190,000 in seed round from Orios Venture Partners.
Founded in 2011 by Nitin Purswani, Zepo allows businesses to set up their stores online. It also provides them with a free payment gateway integration, logistics support and marketing. Currently, more than 1200 e-commerce stores are running on Zepo. With 20 employees on board, it has offices in Delhi and Bengaluru. The startup claims that it can help an SMB to open its online shop just under INR 999 per month.
The firm competes with with Shopify, Buildabazaar, Martjack, KartRocket including several others.
One 97 Mobility Fund is a USD 100 million fund that invests across seed, early and growth stage companies with average deal size ranging from USD 500,000 to 5 million across domains like m-commerce, location-based services, video & content aggregation and device apps among others. Its portfolio companies include MobiSwipe, Plivo, Engrave, Dexetra, iimjobs and AppSurfer.