Arzooo raises $70 million to bring ‘best of e-commerce’ to physical stores in India

Arzooo, an Indian startup that is attempting to bring the "best of e- commerce" to physical stores, has raised $70 million in a new financing round as it looks to scale its retail platform across the South Asian market.

The startup received Series B funding from the two funds. The new round values it at $310 million and was invested by Tony Xu. Over $85 million has been raised by the startup so far.

Millions of retail stores in India are struggling to compete with large retail chains and e-commerce giants because they don't offer a wide selection of items.

Arzoo is trying to solve this by working with big brands to secure large inventories and sell them to retail stores at a better price.

The startup works with over 30,000 retail stores in India and provides them with access to over 10,000 different products.

The co-founder and chief executive of Arzooo said in an interview that the consumers who have been walking in and out of stores because of the pricing are able to be helped.

The co-founding of Arzooo was done by two former Flipkart employees. The image is called Arzooo.

Businesses can get up to $25,300 in revolving credit with Arzoo because it has built its own supply chain network.

These are the stores that are in the lowest part of the chain. They don't have the same access to a good margin chain as other companies. He said that they were getting sandwiched between the two.

Arzooo is able to deliver these stores better prices because of it's partnerships.

Each month these stores sell between $12,500 and $19,000 of goods. The majority of consumer durable purchases in India are powered by them.

Arzooo's business model is very capital efficient and can meet the changing needs of both retail shops and end customers. One of the most important parts of the business is a self- branded functional Logistics system. "There is no limit to the company's future and we would like to fully support the company in their way to great success."

The new capital will be used to expand to more Indian states and launch consumer-facing services.