nearbuy raises venture debt of 15 crore from BlackSoil Capital

nearbuy has raised venture debt of ?15 crore from BlackSoil Capital Private limited. Featuring hyper local offers in segments like food & beverage, spa, salons, wellness & getaways nearbuy allows customers to discover the best things to do around them. 

nearbuy is backed by the Venture Capital firm, Sequoia Capital with Groupon US as a minority shareholder. Post management buyout in August 2015, wherein Sequoia had invested $17 million, this is the first debt transaction for nearbuy.

In the past 12 months nearbuy has expanded its presence to 33 cities across 10+ categories generating over 500,000 footfalls for offline merchants per month.