Simsim secures USD 16 mln for its social commerce in India

Friday 14 February 2020 15:08 CET | News

Simsim, an India-based social commerce startup, has announced raising USD 16 million, seven months after its launch.

The startup said it raised USD 16 million across seed, Series A and Series B financing rounds, from Accel Partners, Shunwei Capital, and Good Capital. The most recent round, Series B, was of USD 8 million in size.

According to TechCrunch, Simsim attempts to replicate the offline retail experience in the digital world with help from influencers. The vast majority of Indians are still not comfortable with reading descriptions, and that is why the startup is taking a different approach to tackle this opportunity.

On its app, users watch short videos produced in local languages by influencers who apply beauty products or try out dresses and explain the ins-and-outs of the products. Below the video, the items appear as they are being discussed and users can tap on them to proceed with the purchase.

The platform works with more than 1,200 influencers, who get a commission for each item they sell, and it has amassed over a million users, most of whom live in small cities and towns.

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Keywords: Simsim, startup, social commerce, India, app, financing rounds
Categories: Payments & Commerce | Ecommerce
Countries: India
This article is part of category

Payments & Commerce