Funding News

Social commerce app Simsim Rakes $8 Mn in Series B Round

Social commerce app Simsim, which is operated by parents company SZS Tech, has secured $8 Mn in a Series B funding round.

Existing investors China’s Shunwei Capital and Accel Partners spearheaded the latest funding round.  According to reports, no other investors participated in the round.

Simsim co-founders Amit Bagaria, Kunal Suri, and Saurabh Vashishtha

Simsim app, which was founded only last year, had raised $6 Mn in a Series A funding round barely three months back.

The Gurgaon headquartered company will utilize the latest proceedings for expanding its network of influencers and further ramp up its technology platform.

Following the latest funding round, the social commerce company’s total external capital infusion has now risen to approximately $16 Mn.

About Simsim App

Simsim App is a part of the nascent yet rapidly growing social commerce industry, an online shopping that thrives on social commerce platforms like WhatsApp and Facebook.

Several Industry experts claim that social commerce sector may unleash next wave of e-commerce revolution across the country by leveraging the potential of social media platforms.

SimSim App is seeking to redefine the online shopping experience with the help of social media influencers, who provide informative information about products to potential customers through interactive videos on the app.

The app has also tried to cater to India’s multi-linguistic consumers by allowing them to operate the app in their preferred Indian language. Big e-commerce players like Flipkart and Amazon don’t offer such linguistic conveniences to Indian consumers, majority of whom are still uncomfortable with English language.

The app offers various shopping categories like men’s fashion, women fashion, electronics, home& kitchen and many others.

Amit Bangra, co-founder Simsim, claims that Simsim app is trying to replicate the offline shopping experience by making it more social and interactive.

Bangra argues that conventional e-commerce players still lack social interaction quotient and therefore many Indian consumers still mistrust e-commerce companies.

SimSim App competes with well-funded player Meesho, which over the last few years has emerged as the main poster boy of India’s social commerce industry.

 

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