Funding News: Value fashion player Citykart raises Rs 538 crore in Series B funding round

Startup: Citykart

Founder: Sudhanshu Agarwal

About us: Citykart’s  astonishing shopping experience & services to its customers in Tier-2 & Tier-3 cities makes it discrete to from other Fashion retailers. It deals in Fashion Apparels for all uage groups. It is known for convincible Fashion Products  & affordable Pricing .

Founded Year: 2015

Office: Gurgaon, Haryana

Sector: Retail

Funding Round: Growth

Investors: TPG NewQuest and A91 Partners

Value fashion retailer Citykart, which operates in India's tier-II and tier-III cities, has raised Rs 538 crore in a fresh round led by TPG NewQuest and A91 Partners. The round, which included a combination of Rs 120 crore of primary capital and Rs 418 crore of secondary deals, takes the valuation of Gurgaon-based retailer reportedly to Rs 1,400 crore.

The new capital will fund Citykart's entry into underpenetrated states such as Rajasthan, Jharkhand, Odisha, and Assam, as it tries to leverage its success in its home markets of Uttar Pradesh and Bihar. Citykart operates 137 stores today and is looking to expand by opening 40–50 stores a year.

Website: citykart.co.in

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