E-commerce start-up DealShare on Thursday said it has raised Rs 25 crore in debt funding from Innoven Capital.

This is the second round of fund raising by DealShare in the last six months. In December 2020, DealShare had raised series C funding of around Rs 153 crore from WestBridge Capital, Alpha Wave Incubation, Z3Partners, Matrix Partners India and Omidyar Network India.

With this latest round of funding, the total amount raised by DealShare stands at Rs 267 crore, a statement said.

“DealShare has always been motivated towards bringing the e-commerce experience to the masses, especially the low and mid-income population. Since our inception, our vision has been to address the shopping needs of the 500 million new-to-internet users by providing them with best quality products at affordable prices,” DealShare CEO and founder Vineet Rao said.

He added that using technology, the company wants to provide users with a gamified shopping experience and this fund raising will give the much needed boost to progress in that direction.

“We will be utilising the funds and Innoven Capital’s expertise to exponentially scale our geographic footprint. We are planning to scale our presence to 100 cities by the end of 2021,” he said.

DealShare has been registering a 50 per cent month-on-month growth. As of February, 2021 the company had clocked a GMV run rate of Rs 750 crore. It currently operates across 5 states and 25 cities in India and has more than 2 million users.

“DealShare has used a unique consumer approach combining discovery led social sharing, group buying, gamified shopping experience and personalized region focused consumer outreach to acquire, engage and retain the consumers. We are confident that this approach will help them scale faster. We are eager to work closely with Vineet and his team and enable them to reach the next phase of growth as fast as possible, Ashish Sharma, MD and CEO of Innoven Capital, said.

By December 2021, DealShare aims to reach Rs 3,500 crore GMV run rate and become operationally profitable. The company is aiming to increase their market presence to 3,000 pin codes across 5 states, while offering a unique assortment of 10,000 SKUs with a lot of localised products.