Infra.Market enters the unicorn club, raised $100 mn from Tiger Global
Infra.Market has just stepped into the the unicorn club after raising $100 mn in a Series C funding round led by Tiger Global. Accel Partners, Nexus Venture Partners, Evolvence India Fund, Sistema Asia Fund and Foundamental Gmbh also participated in the round. Infra.Market is a B2B online procurement marketplace for real estate and construction material that leverages technology to offer fair pricing and a smoother procurement experience for its customers.
With a proper business model in mind, the company has been profitable since its inception in 2016. In the financial year 2020, the company had noted a 5.5x jump in its revenue to Rs350 Cr. Its expenses grew at the same rate to reach Rs339 Cr, leading to a profit of Rs8.59 Cr. The B2B marketplace had reported a revenue of Rs63 Cr with expenses worth Rs60.75 Cr, leading to a profit of Rs1.74 Cr.
“We as a B2B company concentrate a lot on our own brands. We have our own brands which generate very high margins for us, compared to other B2B companies, which are mainly distribution companies… We have grown our private label from 40% to may be around 70%, so our margins have improved considerably,” said Souvik Sengupta, Co-founder, Infra.Market.