India’s Meesho to acquire B2B commerce platform Kirana Club

Indian e-commerce institution Meesho has agreed to acquisition Kirana Club, a community-focused B2B commerce platform, successful a transaction valued astatine Rs2.02bn ($21.34m).

Established successful 2020 by Anshul Gupta and Aishwarya Jain, Kirana Club runs a mobile-led level done which tiny shopkeepers, chiefly successful Tier 2, Tier 3 and Tier 4 towns, arsenic good arsenic agrarian markets, tin find, comparison and acquisition fast-moving user goods straight from brands.

The institution says it has much than 4.1 cardinal registered retailers connected its platform.

According to a regulatory filing, Meesho's committee has cleared the acquisition of a 100% holding successful Singapore-based Kirana Club Pte Ltd and its Indian arm, Retail Pulse Labs.

The woody offers a implicit exit to existent investors portion the founders volition stay successful enactment roles. Kirana Club volition proceed to relation independently wrong the Meesho group.

After the transaction closes, Kirana Club volition run arsenic a wholly owned subsidiary of Meesho. Retail Pulse Labs volition go a step-down subsidiary, with Meesho indirectly owning 99.59% done Kirana Club and straight holding the remaining 0.41%.

Meesho said the acquisition volition beryllium carried retired successful 3 stages, with completion scheduled connected oregon earlier 31 March 2027.

Meesho chairman, managing manager and CEO Vidit Aatrey said: "Kirana Club has built heavy spot among tiny retailers done its asset-light and community-first approach. We spot important opportunities to fortify access, transparency and merchandise find for kiranas successful underserved markets crossed India, and besides widen this to each forms of B2B retail crossed India."

Gupta said: "Kirana Club was built connected a elemental belief: tiny retailers successful Bharat merit the aforesaid access, transparency and ratio arsenic modern retail. Over the past fewer years, we person built heavy spot with kirana retailers by combining community, section insights and commerce.

"Meesho understands Bharat astatine standard and shares our content successful serving underserved users done technology. With this partnership, we tin accelerate our ngo of gathering India's astir trusted integer commerce web for kiranas."

"India's Meesho to get B2B commerce level Kirana Club" was primitively created and published by Retail Insight Network, a GlobalData owned brand.