We show you our most important and recent visitors news details Dubai's Jabbar Internet Group invests in India's Arzooo in the following article
Hind Al Soulia - Riyadh - Dubai's Jabbar Internet Group invests in India's Arzooo
News • 27 October, 2020
Source: Money Control
B2B Retail-tech firm, Arzooo on Tuesday said it has raised $7.5 million (about Rs 55.3 crore) in a funding round led by US-based WRVI Capital.
Arzooo’s existing investors, 3Lines Venture Capital, another US-based investor and Jabbar internet of UAE also participated in the Series A round, a statement said.
The startup will leverage funds for tech-up-gradation and market expansion, it added.
Arzooo was founded by Khushnud Khan and Rishi Raj Rathore in 2018 and currently operates in Bengaluru, Delhi-NCR, Chennai, Kolkata and Hyderabad.
The company said it will scale operations in Eastern and Western regions of the country, and ramp its tech platform – Go Store.
The company aims to serve 50,000 retailers in the next year.
"Our strong growth over the past year is a testimony to the positive impact Arzooo has had on the business of physical retailers. The current fundraise will help us boost our technology, quality of service and reach to fulfil our goal of equipping each retail store with technology to grow and perform profitable business,” Arzooo co-founder Khushnud Khan said.
Arzooo had recently announced the launch of its digital credit lending product, Arzooo Credit for offline retailers that offers working capital to Arzooo’s partner stores.
With Arzooo Credit, retailers can avail from Rs 1-10 lakh credit on Arzooo platform.
At present, the service is open to over 5,000 retailers across 10 cities.
These were the details of the news Dubai's Jabbar Internet Group invests in India's Arzooo for this day. We hope that we have succeeded by giving you the full details and information. To follow all our news, you can subscribe to the alerts system or to one of our different systems to provide you with all that is new.
It is also worth noting that the original news has been published and is available at Wamda and the editorial team at AlKhaleej Today has confirmed it and it has been modified, and it may have been completely transferred or quoted from it and you can read and follow this news from its main source.