Indian e-commerce company Meesho has agreed to purchase Kirana Club, a community-focused B2B commerce platform, in a transaction valued at Rs2.02bn ($21.34m).
Established in 2020 by Anshul Gupta and Aishwarya Jain, Kirana Club runs a mobile-led platform through which small shopkeepers, mainly in Tier 2, Tier 3 and Tier 4 towns, as well as rural markets, can find, compare and purchase fast-moving consumer goods directly from brands
The company says it has more than 4.1 million registered retailers on its platform. According to a regulatory filing, Meesho’s board has cleared the acquisition of a 100% holding in Singapore-based Kirana Club Pte Ltd and its Indian arm, Retail Pulse Labs. The deal offers a complete exit to current investors while the founders will remain in leadership roles.
Kirana Club will continue to function independently within the Meesho group. After the transaction closes, Kirana Club will operate as a wholly owned subsidiary of Meesho. Retail Pulse Labs will become a step-down subsidiary, with Meesho indirectly owning 99.59% through Kirana Club and directly holding the remaining 0.41%.