Bazar India, a fashion and lifestyle company, announced it has raised ₹25 crore in Series A funding on Planify Capital Platform. The company has raised the current round led by Shashvat Nakrani, co-founder of Bharatpe, Sanjiv Maini, VP at Hindware group; Bhumika Srivastava, HR Director at Airbnb and other executives.
Bazar India will utilise the fund for expanding its team, marketing and branding, funding expansion plans and platform advancement.
Atul Garg, CEO of Bazar India, stated, “The funds raised will be used for the company’s expansionary purposes as the company plans to open 20 more stores in states such as Uttar Pradesh, Bihar, Jharkhand, Orissa, and also in South India. The company is expected to reach a top line of ₹1000 Cr with a PAT of ₹70 Cr in the next 5 coming years.”
Rajesh Singla, CEO of Planify Capital, said, “Bazar India is poised to be one of the most prominent players in the retail segment in North East India. Early investors will have a great opportunity to make excellent returns on their investments.”
Planify is a fintech startup that focuses on building India’s first marketplace for private equity. Planify offers stocks that are not yet listed to investors (Angel, Accredited Investors, VC, AIF, and PE Funds) so that the exchange of hands can become easy in unlisted companies. It aims to solve problems of the availability of IPO stocks to investors with its flagship product, Private Boutique. Startups and private companies can raise funds on their platform, the statement said.
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