BigshoeBazaar, an online wholesaler and retailer of shoes, apparels etc has closed its series B round of investment of $9M from Narayanmurthy floated Catamaran Ventures and Nexus Venture Partners. The deal was almost done after BigshoeBazaar raised its series A investment.
With this new investment Catamaran Ventures has picked up 13 per cent stake in the online firm for Rs 26 crore, Nexus Venture Partners has picked up 7 per cent stake for Rs 14 crore. The funds will be used to strengthen supply chain and setting up warehouses to support growth at the front-end,” Bigshoebazaar India Co-founder Manmohan Agarwal said.
BigshoeBazaar primarily runs a B2C portal Yebhi.com formerly known as Bigshoebazaar.com which sell footwear mainly and now it has added few more categories like Clothing, jewellery. Yebhi.com does around 4000 transactions on a daily basis. Bigshoebazaar runs a wholesale network across the country targeted at small retailers in Tier2 and Tier3 cities to source Global brands like Adidas, Nike etc. which in general don’t have access to such brands. Bigshoebazaar has also started franchisee business, where it offers shoe retailers to use it brand and retailers source the footwear from the company.
You may check out Nitin Agarwal’s interview here, Nitin is one of the Cofounder of BigShoeBazaar.
Lets look at the monthly traction at Yebhi.com:
Avg time on site