Want inventory for your store, but do not want to waste a lot of time on it! Then MaxWholesale is a right option for you. No more going to wholesale shop, ordering, and then waiting for your stuff to reach your place. All this can be done in just a few simple clicks through MaxWholesale.
About the company
MaxWhole is a Delhi based, B2B wholesale marketplace. The company is owned by 99 Algorithms Pvt. Ltd. MaxWholesale was founded by Samarth Agrawal, IIT Delhi alumnus,s and Rohit Narang, in April 2016. The commerce and supply chain platform works as a channel between large companies and retail store owners. Sellers can buy inventory for their stores from this platform. This is not only time saving for the companies, but also increases their profitability. The MaxWholesale app is available on PlayStore for Android users and iTunes for Apple iOS users. Through any internet browser also the platform can be accessed.
In July 2016, MaxWholesale, an e-commerce supply portal has raised $1,500,000 in a seed round of funding. This round of funding was led by investment bank Maple Capital Advisors. This is the second investment done by Maple Capital. Before this, the company has invested in bike taxi app N.O.W. “We believe retail B2B will change significantly on the back of mobile internet penetration. The tangible value to mom-and-pop stores which are now mobile/data enabled and receptiveness of FMCG suppliers is encouraging. The efficiency and scalability of the business model combined with the scope of data analytics have potential to unlock significant value. The clarity of thought, technical prowess and domain experience in the team stood out and encouraged us to participate in this venture,” said Pankaj Karna, MD, Maple Capital Advisors, in dealstreetasia.com report.
Competitors and partners
StockIn, BigBasket, and ZopNow are some companies who compete with MaxWholesale in the segment. Including some famous firms like Patanjali, HUL and Cadbury, the company claims to have partnered with around 1000 companies.
The company will use the funds for the betterment of their existing operations. They will also focus on making their technology platform stronger. They also plan to recruit more people for the expansion of their team. “The FMCG supply chain in India has lots of inefficiencies in price discovery and product procurement. With MaxWholesale, we are creating a fully integrated data and technology driven B2B supply chain platform,” said Agrawal , in dealstreetasia.com report.