InnoVen Capital, Asia’s leading venture debt and specialty lending firm, recently invested Rs 7.5 crore in BeepKart, a full-stack online retailer of used bikes. The recent investment underlines the firm’s commitment to back promising start-ups that are disrupting their respective categories.
Hundreds of customers are already vouching for BeepKart’s s used 2-wheelers that are refurbished as good as new. BeepKart is taking a digital-first approach to solving for the lack of trust and broken customer experience that exists in the multi-billion dollar used 2-wheeler market.
Hemir Doshi, Co-Founder, BeepKart, said, “We are delighted to partner with InnoVen Capital and look forward to a long partnership. Our focus is to deliver a brilliant user experience and for a BeepKart bike to become the brand of choice for millions seeking value-for-money personal mobility. With our recent equity funding as well as venture debt, we are well-positioned to execute towards an aggressive growth path.”
Tarana Lalwani, Founding Partner, InnoVen Capital, added, “While India is the largest 2-wheeler market in the world, the used 2-wheeler market remains fragmented & opaque. A full-stack business model delivers high value in vehicle e-commerce. Two-wheelers are a great use case for an online product journey. We look forward to partnering with BeepKart as they continue to build.”