 "e-commerce policy")
E-commerce player Club Factory has raised $100 million in a Series D round of financing led by leading venture capital firm Qiming Venture Partners. Other investors included Bertelsmann, IDG Capital, and other Fortune 500 companies from USA and Asia, it said in a statement.
Club Factory doesn’t charge commission from sellers on its e-commerce marketplace; this has helped it emerge as the third largest e-commerce player in India, after Amazon and Flipkart, it claimed citing app download and usage data from App Annie. It claims its Indian SME business has grown ten times in the last six months.
Talking on the announcement,
Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
Pick your 5 favourite companies, get a daily email with all news updates on them.'%3E%3Cg id='Artboard-Copy' transform='translate(0 0.012)'%3E%3Cg id='_126115' transform='translate(0 0)'%3E%3Cpath id='Path' d='M17.537 1.487a.473.473 0 0 0-.467.477v12.67A2.4 2.4 0 0 1 14.7 17.06H3.3A2.4 2.4 0 0 1 .933 14.634V.966H14.587v12.29a.467.467 0 0 0 .933 0V.489a.473.473 0 0 0-.467-.477H.467A.473.473 0 0 0 0 .489V14.63a3.346 3.346 0 0 0 3.3 3.382H14.7A3.346 3.346 0 0 0 18 14.63V1.965a.467.467 0 0 0-.462-.478Z' transform='translate(0 -0.012)' fill='%23c4132a'%3E%3C/path%3E%3Cpath id='Path-2' d='M12.676 3.955a.478.478 0 1 0 0-.955H2.508a.478.478 0 1 0 0 .955Z' transform='translate(0.124 0.166)' fill='%23c4132a'%3E%3C/path%3E%3Cpath id='Path-3' d='M12.676 13H2.508a.478.478 0 1 0 0 .955H12.672a.478.478 0 1 0 0-.955Z' transform='translate(0.124 0.768)' fill='%23c4132a'%3E%3C/path%3E%3Cpath id='Shape' d='M2 6v5.371a.484.484 0 0 0 .467.5H7.531a.484.484 0 0 0 .467-.5V6a.484.484 0 0 0-.467-.5H2.467A.484.484 0 0 0 2 6Zm.933.5H7.066v4.375H2.933Z' transform='translate(0.122 0.317)' fill='%23c4132a'%3E%3C/path%3E%3Cpath id='Path-4' d='M12.321 5.5H8.967a.478.478 0 1 0 0 .955h3.354a.478.478 0 1 0 0-.955Z' transform='translate(0.517 0.317)' fill='%23c4132a'%3E%3C/path%3E%3Cpath id='Path-5' d='M12.321 8H8.967a.478.478 0 1 0 0 .955h3.354a.478.478 0 1 0 0-.955Z' transform='translate(0.517 0.467)' fill='%23c4132a'%3E%3C/path%3E%3Cpath id='Path-6' d='M12.788 10.977a.473.473 0 0 0-.467-.477H8.967a.478.478 0 1 0 0 .955h3.354a.471.471 0 0 0 .467-.478Z' transform='translate(0.517 0.617)' fill='%23c4132a'%3E%3C/path%3E%3C/g%3E%3C/g%3E%3C/g%3E%3C/svg%3E)
Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
Preferential invites to Business Standard events.
Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.