accel: FirstClub raises $23 million in a funding round led by Accel and RTP Global

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Quick commerce startup FirstClub has raised $23 million in a funding round led by venture capital firms Accel and RTP Global, who had also co-led the previous round. Following this funding round, which was about 90% equity and the rest debt, the company’s valuation now stands at $120 million.

Existing investors Blume Ventures and 2am VC doubled down in this round, which also drew new backers Paramark Ventures and Aditya Birla Ventures.

The company plans to deploy the funds towards opening new dark stores in Bengaluru, rolling out formats like cafes…



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accel: FirstClub raises $23 million in a funding round led by Accel and RTP Global



Quick commerce startup FirstClub has raised $23 million in a funding round led by venture capital firms Accel and RTP Global, who had also co-led the previous round. Following this funding round, which was about 90% equity and the rest debt, the company’s valuation now stands at $120 million.

Existing investors Blume Ventures and 2am VC doubled down in this round, which also drew new backers Paramark Ventures and Aditya Birla Ventures.

The company plans to deploy the funds towards opening new dark stores in Bengaluru, rolling out formats like cafes…



Source link

Disclaimer

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.

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