nearbuy has raised venture debt of ?15 crore from BlackSoil Capital Private limited. Featuring hyper local offers in segments like food & beverage, spa, salons, wellness & getaways nearbuy allows customers to discover the best things to do around them.
nearbuy is backed by the Venture Capital firm, Sequoia Capital with Groupon US as a minority shareholder. Post management buyout in August 2015, wherein Sequoia had invested $17 million, this is the first debt transaction for nearbuy.
In the past 12 months nearbuy has expanded its presence to 33 cities across 10+ categories generating over 500,000 footfalls for offline merchants per month.