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B2B marketplace Jumbotail raises Rs 35 cr from Alteria Capital

Retail platform and B2B marketplace Jumbotail on Monday said it has raised Rs 35 crore from Alteria Capital to expand its operations, and scale its SME-focused fintech business.This venture debt round comes after a $25 million equity round .

Jumbotail raises Rs 35 cr from Alteria Capital in venture debt round

Jumbotail, a new retail platform and B2B marketplace for food and grocery products, has raised Rs 35 crore from Alteria Capital. This venture debt round comes after a $25 million equity round concluded in January 2021. The company plans to use the funds to expand its operations across the entire country, fund its working capital requirements, and scale its SME focused fintech business. Ashish Jhina, co-founder, Jumbotail, said, “Covisd has accelerated the digital transformation of the food and FMCG sector and it is very evident to all players that digital marketplaces are indispensable for their continued growth. We are seeing rapid adoption of our platform and services from retailers and brands across all geographies. Our J24 store network is growing fast and a large number of FMCG brands are signing up for our go-to-market suite of services to get national reach. We are looking to bring in more top talent across the entire company to power this explosive growth.”

[Funding alert] B2B marketplace Jumbotail raises Rs 35 Cr in Debt from Alteria Capital

[Funding alert] B2B marketplace Jumbotail raises Rs 35 Cr in Debt from Alteria Capital
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