Gobillion, B2C social commerce platform, has raised seed funding of $2.9 million from YCombinator, Justin Mateen (Founder of Tinder, through the JAM Fund), and Pioneer Fund.
Other investors who participated in the round include Soma Capital, Goodwater Capital, Olive Tree Capital, Chris Golda Investments, Oliver Jung, Venture Souq, Shanti Mohan (Founder, LetsVenture), Vikas Choudhury (President, Reliance Jio), Acacia Venture Capital Partners, Soma Ventures, Asymmetry Ventures, Dileep Thazhmon (Founder, Jeeves), Vikalp Sahni (Co-Founder, Goibibo), and Harsh Pokharna (Founder, OkCredit), among others.
Gobillion enables customers to buy together in social groups and get discount deals. IIM-NIT alumni Roshan Farhan and Kulapradip Bharali co-founded the startup in 2020. The fresh funds will be used for business expansion, launching more categories, and strengthening the operations, product development and technology teams. The company aims to build extensive social and gamified e-commerce experiences for customers in small towns in India and Southeast Asia.
Farhan, CEO, Gobillion , said, “The next frontier of growth and opportunity is enabling commerce for customers in small towns in India.” The funds will be used to expand their market, augment tech and product capabilities, and hire new talent across functions, he said.
Gobillion plans to launch its services across 12 cities in the next 18 months, and in 100 more cities in four to five years.