Value fashion retailer Citykart has raised Rs 538 crore in a funding round comprising both primary and secondary transactions, with participation from TPG NewQuest and A91 Partners.
The latest round is expected to value the company at around Rs 1,400 crore, people familiar with the development said.
Of the total capital raised, Rs 120 crore is fresh capital that will be used to expand Citykart’s footprint beyond its core markets of tier-II and tier-III cities in Uttar Pradesh and Bihar, its founder and managing director Sudhanshu Agarwal told ET.
We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.
Value fashion retailer Citykart has raised Rs 538 crore in a funding round comprising both primary and secondary transactions, with participation from TPG NewQuest and A91 Partners.
The latest round is expected to value the company at around Rs 1,400 crore, people familiar with the development said.
Of the total capital raised, Rs 120 crore is fresh capital that will be used to expand Citykart’s footprint beyond its core markets of tier-II and tier-III cities in Uttar Pradesh and Bihar, its founder and managing director Sudhanshu Agarwal told ET.
We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.
