Soptle eyes $10 million annual recurring revenue

By

Isabelle Crossley

Published
Dec 20, 2022

Business-to-business fast moving consumer goods company Soptle expects to reach $10 million in annual recurring revenue by the first quarter of next year. The business currently has an annual recurring revenue of $2 million. 

Soptle has widened its retail network to span a presence in close to 50,000 stores, ET Bureau reported. The business plans to continue to expand its presence across the country to reach 200,000 outlets to fuel its next round of growth. The business launched in May this year and has grown swiftly in a short amount of time. 
 
“With more retailers, the manufacturers will start seeing more value to get onboarded for a direct access to distribution,” said Soptle head Pravas Chandragiri, ET Retail reported. “This will lead to a higher FMCG selection of products and will eventually lead to making the customer experience better. We will re-invest our profits into developing a better network of Soptle distribution partners and enable them with advanced technology and solutions. This leads to lower cost structure and lower prices, as well as offers faster and reliable distribution network, and thus further improves customer experience.”

Soptle provides consumer goods companies with a network from which to distribute their products. The business operates a micro SaaS-led platform and gives business access to distribution solutions across India for a zero fixed cost which enables these businesses to increase revenue by up to 10 times, according to Soptle. 
 
The business also aims to launch its own fintech services next year. This will enable it to offer supply chain financing and bill discounting services to the businesses it works with.