B2B platform Apnaklub raises $3.5 mn from Sequoia Capital India's Surge

Apnaklub links kirana and general stores in the hinterland to consumer brands through its network

Apnaklub, a B2B platform for fast-moving consumer goods (FMCG), has raised $3.5 million in a seed round from Sequoia Capital India’s Surge, bringing the total funds raised so far to $5 million. 

Apnaklub links Indian retailers, such as kirana and general stores in the hinterland, to consumer brands through its network of digitally connected wholesale partners. 

“This funding will enable us to expand across more rural areas in India as well as increase our range of services and products for our partners,” said Manish Kumar, Chief Operating Officer of Apnaklub.

Kirana owners are often unable to meet a minimum quantity or purchase amount to buy from distributors, who in turn are constrained by the capital needed to deploy goods to these areas. 

Apnaklub addresses this gap by connecting wholesale agents to provide kirana stores with a wider range of SKUs, no minimum order quantity and competitive prices. Apnaklub’s network of agent partners help collect demand from their surrounding kirana stores, aggregate them, and place an order on the app. Apnaklub then delivers the goods to the partner, who then distributes them to the stores. 

According to the 2020 report by Accenture, the digital transformation of just 10% of the 13 million kirana stores in the country could boost retail consumption by more than 5% and generate about 3.2 million new jobs.

“At Apnaklub, we’re going beyond providing an organised supply of FMCG goods to semi-urban and rural areas. Our mission is to equip people across India with the means to set up their own hyper-local micro-distribution businesses, by providing them with better profit margins, access to a large assortment of brands and ensuring supply consistency,” said Shruti, founder and chief executive officer of Apnaklub. 

Apnaklub was founded in July 2020 in Bangalore by Manish Kumar and Shruti. Shruti previously worked at Omidyar Network and Bain & Company. Manish has over 20 years of experience in the FMCG distribution sector and has had leadership roles at Walmart India, Metro Cash & Carry, and Future Group. 

Apnaklub is part of Surge’s fifth cohort of 23 companies that have developed new digital solutions to help companies and individuals work, live and learn better in a rapidly evolving Southeast Asian landscape.