Zamroo Secures Another Round of Seed Funding

Date : 06/13/2018 @ 9:00PM
Source : PR Newswire (US)

Zamroo Secures Another Round of Seed Funding

NEW DELHI, June 13, 2018 /PRNewswire/ -- Zamroo, the leading mobile marketplace for local buyers and sellers in India which redefined the way used goods are bought and sold online has raised another round of seed funding from Singapore based angel investor. The funding will allow the company to further strengthen its position in consumer-to-consumer market in India.

While the terms of the transaction were not disclosed, the New Delhi-based company will use the proceeds towards boosting its technology platform and client acquisition.

Zamroo has established itself as one of the leading players in C2C space in India, said Naresh Nagpurkar the investor at Zamroo; and achievements of the young company are hugely impressive and I am excited to be part of the team. Zamroo is today one of the trusted platforms in the digital classified space in India and I am inspired by their core team and innovative services offered on the platform in this fast-growing market for used goods. "All of the work done in the digital classified space till date has been focused on number of listings, rather than quality of the listings," said Naresh Nagpurkar.

"The market of local buying and selling hadn't changed significantly in two decades until Rakesh and team imagined what a smartphone could do to deliver an easier, faster and more enjoyable user experience," said Naresh Nagpurkar. "That vision has helped expand the market, as people who never before posted items for sale have discovered how easy it is to use Zamroo. Today, Zamroo is one of the fastest growing marketplaces, turning a passion for user experience and engagement into a category leader in local buying and selling."

"We have built Zamroo into the kind of marketplace that people want - it allows them to buy and sell things directly from their mobile phones on click of the button more securely," said Rakesh Kapoor, founder and CEO, Zamroo. "Understanding the limitations of traditional marketplaces in India, Zamroo is committed to provide a reliable platform keeping in mind the security, privacy, user data, confidentiality, etc to its users. With Zamroo, buyers can rate sellers on click of a button, which helps in making the platform more reliable than others.

"Mr. Naresh's vast experience in diversified markets globally, makes him an ideal partner as we continue to scale our business and expand globally," said Kapoor. "Our new investor is passionate about our product and we expect his valuable insights to make our product better, as we continue to rollout the product in India and globally.

"Having seen significant and sustained growth since day one, we are now ready to expand our product to more cities which includes the features and security our customers are asking for," Kapoor said. "Small businesses want access to relevant information within specific contexts and we are working towards that. Zamroo allows you to keep your finger on the pulse of your business and be in control of the most critical functions, on mobile apps or the web."

ZAMROO has close to 300,000 plus listings active on its platform and has 58,000 plus sellers registered across PAN India. It is growing exponentially by word of mouth publicity. It is available on web as well as its user-friendly mobile apps are available on Google Playstore and Apple store.

KPMG-Google report on digital marketplace highlights, used goods market in India was at USD 19 billion (INR 115,000 crores) in FY-15 and revenues in the sector are growing at 29.5 percent CAGR. Platforms catering to multiple categories (horizontal marketplace) would continue to lead with about 30 percent market share. Click to view the report: https://goo.gl/V39KC3

About Zamroo

Zamroo is the fastest growing mobile marketplace to buy and sell locally. Zamroo team is working to create the best experience for local buying and selling used goods online. Their motto is "Easy Buy. Easy Sell".

ZAMROO was launched after the founders acknowledged/witnessed myriad user-inconveniences in current online marketplaces like difficulty in browsing, expensive listing fees and limited product variety users were looking for. They wanted to create a simple and secure environment where buyers and sellers can easily trade goods from the palm of their hand. Using the power of your smartphones, Zamroo has made selling as simple as taking a selfie and buying as easy as commenting on one. And it's absolutely free for everyone to use.

For more information, visit https://www.zamroo.com and download the Zamroo app for Android and iOS devices.

Related Links

https://www.facebook.com/Zamroo.India

Related Video

http://www.youtube.com/watch?v=gOIeSFDdwUc

Cision View original content with multimedia:http://www.prnewswire.com/news-releases/zamroo-secures-another-round-of-seed-funding-300666148.html

SOURCE ZAMROO

Copyright 2018 PR Newswire

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