Fireside Ventures and an international investor engaged in the area co-led the fundraising round.
HeyDay, a prominent participant in the roll up market, PDS International, Class 5 Worldwide, Secocha Ventures managed by Sanket Parekh, boAt founders Aman Gupta & Sameer Mehta (in their respective capacities), and many other global strategic investors also participated in the round. The funds will be used largely to grow 10club’s brand portfolio, invest in strengthening its technological stack, and for working capital. Vinay Singh, Partner at Fireside Ventures, will join the company’s board of directors.
10club acquires the companies of e-commerce goods vendors in India. According to the company, it works with its teams to help them expand 10x in size. Many entrepreneurs have emerged in recent years, building viable companies on the back of marketplaces such as Amazon and Flipkart; the increased adoption of e-commerce by the Indian customer has further reinforced these firms. However, early-stage digitally native companies sometimes struggle to scale above a certain revenue level, and their growth plateaus as a result of greater competition and a lack of funding possibilities. They don’t have the funds to invest in technology, marketing, optimization tools, supply chain knowledge, or competent people resources.
This is where 10club comes into play. With its centralised platform architecture that includes in-house market specialists, technology, procedures, and playbooks, 10club unlocks growth for small firms and assists them in reaching scale. Bhavna Suresh, former CEO of Lamudi, Deepak Nair, former co-founder of 22feet, and Joel Ayala, co-founder of VC firm Class 5 Global, co-founded the company.
“With a strong leadership team, a partner ecosystem, and an operational playbook to provide high performance, we have already created our basic pillars of the centralised platform,” stated Bhavna Suresh, Co-founder and CEO of 10club. “Under the 10club umbrella, there is enormous opportunity to catalyse the entrepreneur, expand their firm, and therefore establish a strong portfolio. This financing will allow us to grow our portfolio and make transformative improvements for the companies we acquire.”
The 10club team has spoken with hundreds of sellers across several product categories to better understand the market’s motivations, problems, and possibilities. They also adopt a collaborative approach to creating transaction structures that will offer the entrepreneur with an exit while also allowing their firm to develop at a rapid pace. The organisation is now concentrating on working with a limited group of entrepreneurs to assist them build their businesses. By being the first to market and effectively incorporating businesses into their portfolio, 10club has gained tremendous traction. They have also signed Letters of Intent (LOIs) worth $15 million and will work hard to get these firms up and running in the coming weeks.