E-commerce firm Zopper is looking to have 25,000 merchants on its platform and expand its reach to 46 top cities this fiscal, even as the start-up is aiming to become profitable in 2016-17 while expecting its gross merchandise volume to more than double at $250 million.
“We are planning to expand our reach to 25,000 merchants across 46 top cities this fiscal. Zopper has crossed $100 million GMV sales clocking revenue of $2 million. By end of this fiscal we expect GMV to reach $250 million and our revenue would be in the range of 2.5-3 per cent of GMV,” Zopper co-founder and CEO Neeraj Jain told PTI.
The company has raised $27 million to fund its expansion from Tiger Global, Blume Ventures and Nirvana Ventures Advisors. Jain said the company is not looking for additional funds for expansion.
Zopper connects with local electronic stores and facilitates sale of their products within a city through its online platform.
“We believe that future growth of e-commerce business is where the online platform and offline will come together. Zopper connects with 100-150 merchants in each city. This gives consumers wide choice in the city and also options to receive product quickly,” Jain said.
He said Zopper does not invests in delivery of products and it is the seller who directly ships products to customers.
The company provides online marketplace, extended warranty services and business intelligence software integrated point of sales (PoS) system.
“Our extended warranty and PoS business is in profit. The marketplace segment is expected to register profit this year,” Jain said.