Pesopie raises $2.5 million, plans to use funds for expansion
E-commerce platform Pesopie has raised $2.5 million (Rs 18 crore) in its latest funding round, which was led by Yana Korshunova from Moscow-based Angel Investor.
Pesopie plans to use the funds to fuel its expansion plans, customer acquisition, and new product innovation.
The Noida-based company had earlier raised $300,000 from an international investor. Pesopie will be officially launching in the Indian market in December this year.
Commenting on the investment, Yana Korshunova from Angel Investor in a statement said: "I'm a firm believer that the world is undergoing a massive transformation in the way new generation is shopping and getting engaged with social platforms. Pesopie has a very efficient cross-border business model based on video and social commerce."
Sanket Agarwal, co-founder and CEO of Pesopie added: "With the support of our strategic investors, we're accelerating the development of our platform and creating cultures that have the power to transform organizations and giving new hope and opportunity to the social media influencers and content creators who wish to start their own e-commerce business with zero investment.”
Pesopie is a fashion social e-commerce platform that facilitates its users with the option to purchase any product they like, while watching entertaining video clips right on their mobile phones.
Pesopie incentivizes its influencers in the process and handles product procurement from factories, e-commerce setup, payments, and logistics on behalf of the social media influencers.
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