BANGALOREBASED JUMBOTAIL 44MSINGHTECHCRUNCH

The Bangalore-based Jumbotail 44msinghtechcrunch Jumbotail founded in Bangalore is startup 44msinghtechcrunch Jumbotail is a company located in Bangalore which operates an online marketplace for wholesale food and grocery products. It was able to obtain $17 million from series B funding.

The money was provided by Accel Partners which was joined by Kalaari Capital, which had also participated in the prior five million Series A in the year 2016.

Jumbotail was founded in the last quarter of 2013 by Saman Khurana, and Karthik Venkateswaran, who had previously collaborated with Amazon It is now operating across six cities across India.

The company’s platform connects medium and small-sized companies and Kiranas (mom-and-pop shops) and suppliers. It also offers logistical as well as credit solutions for its clients.

Jumbotail declares that it has over 50,000 clients who have registered on its website and it has handled more than 1.5 million purchases in the last few years.

The company plans to utilize the funds to expand its product offerings and geographic coverage. The company is also planning to introduce a new credit card to customers.

Jumbotail’s competition is its wholesale affiliate Amazon Business. Amazon Business and the Flipkart Wholesale division.

SERIES B

Jumbotail has obtained $17 million from Series B financing that is backed by Accel Partners.

The funding also came with participation by Kalaari Capital. Kalaari Capital played a role in the initial Series A investment of five million in the year 2016.

Jumbotail’s total financing is around $22 million.

The company plans to utilize the funds to expand the range of its products and geographical coverage. The company plans to also launch a new credit card for customers.

Jumbotail’s competitors include Wholesale, which is a division within Amazon, Amazon Business along with the Flipkart Wholesale division.

Jumbotail was developed in the last quarter of 2013 by Saman Khurana as well as Karthik Venkateswaran. They previously worked with each other at Amazon.

The platform that the company operates connects small-scale companies and Kiranas (mom-and-pop stores) to suppliers. It also provides logistical and credit services to its customers.

Jumbotail claims that it has over 50,000 users who have registered on its platform. It has processed over 1.5 million transactions in the last few months.

Jumbotail is currently operating in six cities in India Jumbotail is planning to use the latest funding to expand operations to additional cities.

CREDIT PRODUCT

Jumbotail plans to provide an upgrade to its credit card for its customers.

It will be designed specifically for small-sized companies and Kiranas (mom-and-pop shops) that utilize the Jumbotail platform.

Jumbotail’s credit program will give customers flexible repayment terms and is supported by a loan secured by collateral from an established institution of finance.

The application will be launched in the next few months and will be available to Jumbotail customers. Jumbotail across the 6 cities in which Jumbotail operates.