DealShare raises $144 million funding from Tiger Global

Social commerce startup DealShare said it has raised $144 million in its Series D round led by Tiger Global, in what is its third funding round in the last seven months, underscoring the high investor appetite in this space.

The round was co-led by WestBridge Capital, Alpha Wave Incubation, Z3Partners with participation from DST Global, Matrix Partners India, and Alteria Capital. With this, DealShare has raised a total funding of $183 mn to date, pegging its valuation at $455 million, post-money.

DealShare, founded in September 2018 by Vineet Rao, Sourjyendu Medda, Sankar Bora and Rajat Shikhar, is focussed on bringing an online shopping experience to first-time internet users in India's hinterlands. The founders believe there is an opportunity to build a different kind of online commerce for the mass market population in Tier 2 and Tier 3 towns with a monthly household income of less than Rs 50,000.

DealShare claims its 6 lakh-7lakh monthly active users use its app over 40 times a month. So far, it has serviced more than 3 million consumers and over 20 million orders. It plans to expand from 20 warehouses across 5 states to over 200 warehouses across 10 states by end of this year.

DealShare competes with the likes of Meesho, Shop101 and BulBul.