GlobalFair Raises Funding From Saama Capital & Others
B2B sourcing and procurement platform GlobalFair has raised $2 Mn in a seed funding round led by Saama Capital and India Quotient. Other investors in the round include venture capital firm First Cheque, CRED founder Kunal Shah, Razorpay founder Harshil Mathur and Fynd cofounders Harsh Shah and Farooq Adam.
The Gurugram-based startup was founded last year by Shaily Garg and Ashish Chandra, who both have two decades of experience cumulatively. Garg is an IIT Bombay alumni, with six years of experience across MNCs and startups. Chandra is an IIT Delhi alumni with close to 17 years of experience. Besides working at various companies and organisations, he founded and led insurance startup TrueCover prior to GlobalFair.
The company claims to be building a borderless trade platform to make inter-country sourcing easy and reliable as domestic B2B procurement has become in the past couple of years. It enables customers to place import orders from verified sellers listed on the platform and manages end-to-end logistics along with all legal documentation. The company also stresses on quality control for its vendors.
