Ali Cloud Investment invests USD 100 million in Just Buy Live
Mumbai, August 25, 2017: Just Buy Live, the World’s first e-distributor from India has raised a Series B round of USD 100 million from Ali Cloud Investments. The funds raised will largely be used for expansion into international markets that have high SME density and fragmented distribution as well as consolidating and growing the existing Indian operations.
Just Buy Live utilizes a cutting-edge mobile application with intuitive interfaces and user-friendly features to democratize product access for its customer base consisting of retailers and SMEs.
The company’s robust technology platform potentially makes almost every unit of physical stock from all listed brands, available to every shop in every zip code directly in real time.
Mr. S.M. Ali, Chairman of ACI announced, “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.”
Speaking on the development, Mr. Sahil Sani, Chairman and CEO, Just Buy Live said, “We are very excited to partner with Ali Cloud Investments at this stage of our growth trajectory when we are ready for global expansion. Our India business is already matured and close to profitability and our tech is now scalable and robust enough to be opened up to the world.”
Udhaar by Just Buy Live is the world’s first structured unsecured credit lending platform for SMEs. With over 100 crores in lines, this in house Fintech platform will be growing 10x in the coming 24 months.
