Through this platform, sellers and merchants can source fast-moving products and categories directly from manufacturers, eliminating the need for middlemen and increasing profits. The platform would instantly help over 7,000 sellers source their products faster and increase their earnings by 3x.
Over the past year, Couloot has helped over 6,000 small street shops and vendors expand their business online and generate seven times more income. “The platform is tailor-made for smaller retailers and sellers coming from outside of metropolitan India. SAAS wholesale platform will be integrated with other platforms, short video apps and logistics platforms to solve supply chain problems for any Indian small business or creator. Sellers could source products directly from manufacturers at lower MoQs (minimum order quantity) at the right price, allowing them to order even with low working capital. It will also help them achieve better margins,” said Jasmeet Thind, co-founder of CoutLoot.
Currently, all major B2B platforms offer large quantities that smaller sellers cannot afford. Using technology, CoutLoot is trying to get into smaller MOQs to help smaller sellers and even developers launch their own online stores in smaller cities. Almost 70% of Couloot’s users are located in smaller towns, indicating a suppressed demand to buy and sell online in a local and more trusted way.
The wholesale platform currently allows sellers to choose from 5000+ SKUs from 240+ small and medium-sized factories in India. Around 60,000 SKUs are planned in the next two months.
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Founded by Thind and Mahima Kaul, Couloot is a platform that allows buyers and sellers to trade while shopping. It helps sellers list non-MRP (Non-Fixed-Price), local market unbranded products in fashion, electronics, home decor, sports and other packaged categories, which account for three quarters of India’s retail market.
CoutLoot, which has raised around $12 million in total from Ameba Capital, 9Unicorns, Venture Catalysts and Astarc Ventures, expects to have a strong network of three million sellers on its platform by the end of 2022. The company has also surpassed 10 million downloads on both Android and iOS apps.
Unlike larger social commerce establishments like those of Facebook, Instagram and Whatsapp, Couloot’s dedicated app not only helps sellers with a free deal, but also with logistics, payments, demand and supply chain services. There are plans to introduce a “buy now, pay later” feature for sellers soon. CoutLoot also offers unique negotiations – a feature on its platform for sellers and buyers in their local language.