Let’s Barter, India based online barter platform has raised an undisclosed amount of funding from Scale Ventures and Angel Investor, Sanjay Choudhary. The raised amount will be used to expand the team and scale operations across major Indian cities.
Let’s Barter, founded in 2015 by Pooja Bhayana and Sahil Dhingra in Delhi as a Facebook group, the community boasts of being one of the biggest online barter communities with over 1,80,000 members. Initially it was started as a Facebook group, but later, the company launched an app in August this year. The platform enables the use of technology to enable barter for its users. Currently, they are looking to tap the youth segment of 18 – 25 years of age in tier I cities of the country.
Speaking on the development, Pooja Bhayana stated her excitement over partnering with the likes of Rahul Narvakar and Nilesh Rathi and said that the association with Scale Ventures will be a great one from strategy point of view.
In a comment to the media on this development, Rahul Narvakar, Co-Founder Scale Ventures stated that Let’s Barter has a pretty niche idea and it is going to be pretty popular because of its execution. He further added that tie-ups with latest brands, ecommerce sites and dating sites can make it even more popular in the time to come and that he was excited to be with the team and see the idea bloom.