Lee Fixel from Tiger Global said in a statement, “ShopClues has emerged as the leading marketplace of choice for the millions of small and local businesses seeking to reach mass consumers in India’s tier two and tier three cities. Sanjay, Radhika and the team have done a great job aggregating the country’s largest online catalog of regional and local brands and we are excited to partner with ShopClues as it expands its offerings.”
Elaborating about the deal, Radhika Ghai Aggarwal, co-founder, ShopClues said, “In Tiger Global, we found a strategic partner who showed confidence in our capability to operate the country’s largest marketplace for the masses – be it the millions of small merchants wanting to sell online or the vast pool of shoppers in tier 2/3 towns looking for access to the products and categories that they never had before. The fact that another ace investor has been added to our list of institutional investors is a strong endorsement of our team, strategy and business performance.”
ShopClues was set up in 2011 as the country’s first fully managed marketplace. At present, ShopClues has 1.5 million transactions per month. More than 70% of its transactions come from tier two and three cities. ing about 40 million monthly visitors, it is growing by 600% year-on-year.