CoutLoot Launched A Wholesale Platform For Increasing Profits Of SMBs

After raising $12 million in funding from ventures like Ameba Capital, Venture Catalysts, 9Unicorns, and Astarc Ventures, popular social commerce platform CoutLoot has launched a wholesale platform that will help connect offline and online sellers to small and medium businesses(SMB) directly. 

With this platform, CoutLoot will allow sellers and merchants to source fast-moving products directly from manufacturers cutting the need for a middleman, eventually increasing profits for them. CoutLoot aims to help over 7 lakh sellers source their products faster and easier with this platform and increase their earnings. Currently, the wholesale platform allows sellers to source their products from over 5000 SKUs across 240 SMBs in India, and the aim is to reach 60,000 SKUs by the next couple of months. 

Talking about the wholesale platform, Mr. Jasmeet Thind, co-founder of CoutLoot, stated that this platform is specifically made for small retailers and sellers coming from outside metro cities. He also added that logistic platforms, short video apps, and other platforms would be integrated with this wholesale SAAS platform to plug various supply chain issues for small Indian businesses and creators. Previously, CoutLoot set an aim to include 3 million sellers on its platform by the end of 2022.

Further adding to his statement, Mr. Thind said that with the wholesale platform, sellers would be able to source products directly from manufacturers at smaller MoQs and at the right prices, which the sellers can order with a small working capital helping them earn better margins. 

Founded by Mahima Kaul and Jasmeet Thind, CoutLoot is planning to launch the “buy now pay later” facility for sellers in the near future. And recently, its app crossed the 10 million downloads milestone on both Android and iOS platforms.