Ace Turtle raises Rs. 27 Crore in pre-series round B of financing

Ace Turtle raises Rs. 27 Crore in pre-series round B of financing

E-Commerce Solution Provider Ace Turtle raises Rs. 27 Crore in pre-series B funding.

Ace Turtle is an e-commerce solution provider company which enables the retail brands to sell online has raised about 27 crore rupees in the pre-series round B of financing. This was from its current investor Vertex Venture and also a new private equity investor. This was reported by two people close to the development.

One of the people has said that Ace Turtle will also be increasing additional equity financing from some new investors in the Series B Round. Ben Mathias, the Managing Director of Vertex has confirmed this development of the company.

“Ace Turtle just closed financing led by a new investor. Vertex co-invested its pro-rata in the round…We (originally) led the Series A in Ace Turtle a couple of years ago,” said Ben Mathias.

Until today, Ace Turtle has raised about $5 million in financing across types, equity financing and debt financing from different investors such as InnoVen Capital and the other existing investors.

Ace Turtle is a technology-focused platform founded in 2013 by Berry Singh and Nitin Chhabra. This platform offers a full stack of e-commerce services from listing, payments, CRM, logistics and also offline retail brands. Ace Turtle’s most frequent customers are the lifestyle brands; apparel brands ad luggage brands like Max, Puma, US Polo and Ray-Ban among the others. 50 such retail brands are included on this platform.

Ace Turtle offers all the e-commerce services right from the last minute delivery to all the other software and operational services to the brands. The company has partnered with multiple logistics for the delivery.

In an earlier interview with the company’s co-founder, Berry Singh, he said that Ace Turtle now also has goals to move into the fast-moving consumer goods and electronics retail.

“As we scale up, we have identified three segments as our core target, which are primarily fashion, consumer electronics, and FMCG. In fact, after fashion or apparel, consumer electronics is the second-largest addressable market for us,” said Singh in the earlier interview in 2018.

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