Wed Mar 16 2022
2 min read
Bonsaro, a technology-driven supplier for seafood and meat has raised an undisclosed amount as growth capital from Klub, India’s leading Revenue Based Financing player.. Launched in August 2020, Mumbai based Bonsaro delivers high-quality seafood, red meat and other poultry items in various cuts and forms to their strong 7000+ portfolio of customers. The brand opted for Revenue-Based Financing for extensive expansion plans since it has created a loyal following of customers leading to a recurring revenue stream.
Bonsaro plans to deploy this capital towards expanding its business footprint. While speaking on the occasion, Sachin Shetty, Founder, Bonsaro shared, “Our business has grown 5X since January 2021. Our customers’ trust, clubbed with our unflinching commitment towards supplying only the best quality food strengthens our robust delivery model and direct tie-up with the fishermen and farms. We see a huge opportunity in taking the business model across the country. With Klub, we noticed their deep understanding of India’s growing startup ecosystem and a keen eye for business opportunities. We are confident that with Klub’s help will be able to take our brand to new heights.”
Bonsaro procures a large proportion of the products directly from fishermen and farmers, thus resulting in assured income streams for the latter. Having established itself successfully in Mumbai, Bonsaro is now gearing up for geographical expansion across Western India followed by high potential clusters in other key regions of the country. The brand runs a stringent tech-enabled safety protocol, where products are checked randomly at various points in the value chain starting from the quality check at the beginning till the final delivery in temperature-controlled boxes.
Sudharsan Venkatakrishnan, Vice President, Klub shared “Indian meat market is set to grow to more than INR 460k Cr. by 2024 and online meat market has grown 2.5-3x since COVID, with large opportunities ahead. I believe that Bonsaro is one of the brands that will have a beginners’ benefit in this booming segment with its tech-enabled approach. We are elated to include Bonsaro in our list of distinguished D2C brands, that we have partnered with in their success journey.”