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CityMall is looking to hire 400 people this year with its latest fundraiser

  • CityMall raised $75 million to double its current headcount and expand to new cities.
  • The company also plans to introduce new categories to its platform and expand existing ones.
  • Although the company did not disclose its valuation, co-founder Angad Kikla confirmed that it was over $300 million.

Indian social commerce platform CityMall on Wednesday announced it was raising $75 million to double its current workforce and expand to new cities. The company plans to hire 400 people in management and engineering positions over the next 12 months.

The company also plans to introduce new categories to its platform and expand existing ones, while strengthening the supply chain and technology stack.

It is also looking to expand its geographic presence to 60 cities over the next 12 to 15 months, company co-founder Angad Kikla told Business Insider. Overall, the company plans to enter 100 cities over the next 18 months. These cities will be shortlisted based on digital literacy in the region, per capita income, and penetration of other e-commerce platforms like Amazon and Flipkart.

The startup’s latest three-year Series C round is led by Norwest Venture Partners. General Catalyst, Citius, Jungle Ventures, Arena Ventures, Elevation, Accel and Waterbridge also participated in the round. Although the company did not disclose its valuation, Kikla confirmed that it was over $300 million.

In total, the company has raised over $110 million.

CityMall enables micro-entrepreneurs – known as community leaders on the platform – to create their virtual stores on WhatsApp and sell products to their nearby networks using e-commerce tools and analytics of clientele. The company currently claims to have a network of 30,000 community leaders in 25 cities and towns including Sonipat, Panipat, Rewari, Faizabad and others.

The company – founded in 2019 by Kikla and Naisheel Vardhan – deals in groceries, fresh and packaged consumer goods (FMCG), electronics and fashion products in small towns and villages. “80% of our customers don’t use any other e-commerce application,” Kikla said.

CityMall currently competes with DealShare, Glowroad and Simsim. Meesho was also in the segment, but the company changed its business model to a full-fledged e-commerce platform.

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