Just Buy Live (JBL), an online distributor that connects mom-and-pop retailers to consumer brands, today said it has raised USD 100 million (Rs 640 crore) in funding from Ali Cloud Investments.
The series B round will largely be used for growing existing business as well as expansion into international markets that have high density of small and medium businesses and fragmented distribution, the company said in a statement.
"Just Buy Live is now ready for global expansion to every country and developing market that can benefit from this platform and we will move quickly to enter new markets with strong local partners," S M Ali, Chairman of ACI, said.
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JBL's India business is already matured and close to profitability, its CEO and Chairman Sahil Sani said.
"Our tech is now scalable and robust enough to be opened up to the world," he added.
Just Buy Live also offers unsecured credit lending to SMEs through 'Udhaar'. It has offered over Rs 100 crore in lines and expects 10X growth in this product in the next 24 months, the statement said.
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