Thrasio-style ecommerce player 10club raised $40 million in seed co-led by Fireside Ventures and an international investor, with participation from HeyDay, PDS international, Class 5 Global, Secocha Ventures, boAt founders Aman Gupta and Sameer Mehta along with other global strategic investors.
The funding will primarily be used for expanding 10club’s portfolio of brands, investing in building its technology stack, and for working capital purposes. Vinay Singh, partner- Fireside Ventures will join the company’s board.
10club provides moving services in the ecommerce roll-up business which acquires, operates and grows businesses that reside on marketplaces like Amazon and Flipkart.
Claims that they have signed LOIs (letter of intent) worth $15 Mn, and will push to operate these businesses in the coming weeks.