B2B quick commerce platform Fairdeal raises $3 M from Incubate Fund Asia and Waterbridge
With the help of angel investors, the B2B quick commerce platform Fairdeal.Market has raised $3 million, or roughly Rs 25 crore, in a pre-Series A round led by Incubate Fund Asia and Waterbridge Ventures.
More direct-to-consumer and regional brands will be onboarded, technology capabilities will be strengthened, and operations will be expanded in new areas throughout Delhi-NCR.
Fairdeal was co-founded by brothers Prateek and Yash Bansal with the goal of enabling micro-retailers to enter the digital retail sector. Data-driven operations underpin its low-burn, capital-efficient business model.
It claims to have generated almost $10 million in annual recurring revenue (ARR) in its first year.
In addition to helping retailers find brands, Fairdeal offers a cloud inventory of more than 1,000 stock-keeping units (SKUs) and higher profit margins. It wants to reach $150 million ARR and establish a network of 100,000 devoted retailers in the next three years.
Additionally, it gathers information that regional, global, and direct-to-consumer brands use on SKU performance, marketing efficacy, and possible market gaps.
