Spark Capital (“Spark”) acted as the exclusive financial advisor to the transaction.

We are pleased to announce the successful closure of a USD 41 Mn equity round in Shiprocket (“Bigfoot Retail Solutions Private Limited”, “Shiprocket”, “Company”) led by PayPal Ventures with participation from existing investors including Bertelsmann India Investments, March Capital and Tribe Capital.

With this, Spark has consummated its 3rd transaction in the Tech-Logistics sector demonstrating its domain expertise & deep sectoral understanding.

This transaction also reinforces our deep global relationships with investors and our ability to architect transactions with great value propositions for our clients. Commenting on the successful completion of the transaction:

Saahil Goel, CEO and Co-founder, Shiprocket said, “We are delighted to be associated with Spark Capital who advised us in closing our USD 41 Million round led by PayPal Ventures alongside existing investors Bertelsmann India Investments, March Capital, and Tribe Capital. We will be using a part of the funding for our global expansion starting with the Middle East. We are excited about the incredible growth opportunity for the Company which is based upon a loyal following of existing merchants and D2C sellers. We look forward to a long-term partnership with our investors.”

Suchai Iyengar, Vice President – Investment Banking, Spark Capital said, “Shiprocket is truly democratizing e-commerce in India by powering the smallest of merchants to sell online - Enabling these merchants to provide a seamless & world-class post checkout experience to their customers. Saahil’s vision and passion to transform this space has been extraordinary, and it has been an absolute privilege to partner with Saahil and the Shiprocket team on this unique journey. We wish them the very best as they scale newer peaks of success”.