Wishlink, a creator-focused commerce startup, has raised $7 million from Elevation Capital and The Fundamentum Partnership Fund. The new investment for the Bengaluru-based company comes after a 15-month lapse.
According to Wishlink’s regulatory filing, which can be accessed through the Registrar of Companies, the board approved a special resolution to issue 12,945 Series A CCPS at an issue price of Rs 44,882 apiece in order to raise Rs 58.1 crore.
To date, the company has raised more than $10 million.
With the new funding, Elevation Capital rose to the top position among external investors, holding 22.93% of the company, ahead of The Fundamentum Partnership Fund, which holds 13.55%.
Wishlink, founded by Divyansh Ameta, Shaurya Gupta, and Chandan Yadav, allows creators on social media platforms to promote brand commerce through their customized multi-brand storefronts. In order to help brands acquire customers, the platform has developed a tech stack that directs creators from social media to their websites.
More than 60 brands are allegedly helped by it, including GOAT Brand Labs, Amazon, Flipkart, H&M, Westside, Faballey, Indya, Aurelia, Wrogn, and Libas.
Elevation Capital, along with several prominent angel investors such as Vidit Aatrey, Sanjeev Barnwal, Rahul Chaudhary, Ankush Sachdeva, and Ghazal Alagh, led Wishlink to close its $3 million seed round in October 2022.
In the fiscal year that concluded in March 2023, Wishlink reported earnings of Rs 1.42 crore and losses of Rs 6.67 crore. It faces competition from Peepul Tree, HYPD Store, and Redesyn, among others, either directly or indirectly.
