Wydr secures fresh funding towards expansion drive

Wydr.in, a wholesale marketplace, announced that it has raised a fresh round of funding from its existing investors, and plans to utilise this to strengthen its seller base, set up pan-India offices and further strengthen its product and technology to penetrate deeper in the Indian wholesale market.

"With over 1.2 million downloads, our belief that there is a market need for a platform that allows manufacturers, wholesalers and retailers to connect and transact directly and safely has been validated. On the seller side, large manufacturers from key hubs across the country are already on Wydr.in platform. We are working with brands to explore new ways of partnering and creating distribution inroads to every corner of the country," said Devesh Rai, founder and CEO of Wydr.in.

Wydr.in is a B2B app-based marketplace for retailers and wholesalers to buy directly from distributors and manufacturers. Retailers in over 2,000 cities across India have sourced products at wholesale prices in categories like fashion, home, automotive and electronics directly from manufacturing and trading hubs; including Surat, Jaipur, Agra and New Delhi.

Wydr.in allows buyers to connect with sellers on WydrChat to customise their requirements, negotiate prices and instantly close deals. It gives the users the feel and experience of a real wholesale market, without the troubles of visiting the market. Buyers can also claim Input Tax Credit under the GST regime.

In tune with the needs of the retailers and local wholesalers, buying on the platform is enabled in various size and color assortments, slab-based pricing and other features.

The investors include Bessemer Venture Partners, Stellaris Venture Partners, Axis Capital, Singapore and Jungle Venture Partners, who had funded the company earlier in November 2016.