Madras Mandi raises INR 3 Cr from Klub in Revenue Based Financing

Madras Mandi raises INR 3 Cr from Klub in Revenue Based Financing

calendar

Wed May 15 2024

2 min read

Klub Team

Klub Team

From fin-tech & D2C, to entrepreneurship & investing, Kaleidoscope is Klub's take on the how's and why's of the finance, investment, & D2C worlds.

Madras Mandi, a renowned name in the world of fresh produce recently announced a successful fundraising of INR 3 crores through Klub, Asia’s leading Revenue Based Financing Platform. They're poised for significant growth, utilising these funds to expand their direct-to-consumer vertical. With a keen focus on enhancing delivery services in Chennai, they're establishing 20 new stores by the end of 2024. 

With their passion for quality and community, Madras Mansi crafts unique farm experiences and hosts inclusive events like "Kootanchoru." Catering to quality conscious consumers who value top-notch produce, they source wholesale fruits and vegetables selected from top farms of South India. In both the B2B and D2C sectors, Madras Mandi plays a pivotal role in connecting local farmers with consumers. Their reach extends to supplying produce to 9 out of 10 restaurants in Chennai and serving a vast online user base of over 1 lakh individuals, significantly impacting the life of over 5000 farmers. 

Prashanth Vasan, the co-founder and CEO of Madras Mandi said, "Klub has played a pivotal role in Madras Mandi's growth journey. Their exceptional service and prompt timelines have been instrumental, and I've gained invaluable insights into fundraising through our partnership."

Madras Mandi’s commitment to sustainability is evident through their eco-friendly packaging for deliveries, which helps reduce carbon footprint. Additionally, with their tech-driven supply chain management system, they have achieved remarkably low wastage of less than 5%, surpassing the industry standard of over 35%. The team had recently commemorated their three-year anniversary and is actively working towards establishing 20 new stores by the end of 2024. 

Congratulating the team, Sudharshan Venkatakrishnan, Senior Vice President at Klub remarks, "India's dynamic landscape is witnessing a paradigm shift in the realm of fresh produce where the consumers driven by a pursuit of quality are gravitating towards this sector. In this burgeoning market that is expected to grow ~8% annually from 2024 to 2028, Madras Mandi reigns as the undisputed leader in Chennai and we are thrilled to endorse their vision as they continue to lead the charge in this flourishing market.

Through this collaboration, Klub emerges as the leading player in Revenue Based Financing in India, cementing its position as a trailblazer in financial technology. Klub stands out for its provision of fast and flexible capital to digital businesses across various growth stages in India, all without requiring equity dilution. Since its inception, Klub has funded over 650 brands through more than 1700 investment rounds.

Read full coverage on Business World.

checkout more great content