Founded in 2019 by Kikla and Naisheel Verdhan, CityMall is a community commerce platform designed for 400 cities, towns and villages for everyday use products like grocery and home products. Its ‘community group purchase’ model aims to help new internet users in towns and small cities to use the internet and e-commerce and become entrepreneurs.
CityMall said has its revenue has grown 25 times since 2019 and it serves more than 200,000 customers.
“Tier 2+ grocery is a very large opportunity, which has remained untapped because of unique challenges that traditional e-commerce models have struggled to address. Citymall’s community group buying model has allowed it to bridge this gap and offer a high trust and super convenient purchase experience,” said Akarsh Shrivastava, Vice President, Elevation Capital, which was formerly known as SAIF Partners.
“We hope CityMall sets an example for Indian founders to innovate and serve the next 500mn Indian consumers while building very valuable businesses in the process,” said Pratik Agarwal, Vice President, Accel Partners.
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