Soptle, a platform specializing in fast moving consumer goods and retail, announced that it has successfully onboarded 100,000 retailers and partnered with 120 manufacturers. This significant expansion has led to a remarkable ten-fold increase in revenue for the company.
Founded by Pravas Chandragiri, a 20-year-old entrepreneur, in May 2022, Soptle revolutionizes the distribution of products for fast-moving consumer goods and retail companies. With a keen understanding of market needs, Soptle offers a seamless and efficient solution for retailers to connect with manufacturers and optimize their supply chain processes. By bridging the gap between retailers and manufacturers, Soptle fulfills a crucial industry demand, empowering retailers to streamline their operations and effectively distribute their products.
“Our goal is to further expand our network of retailers and onboard additional manufacturers, resulting in a greater variety and availability of products on our platform. We expect to hit a $10 million revenue rate by the first quarter next year and reach the retail network to two lakh outlets,” said Chandragiri.
From the time of its establishment, the company has successfully secured around $1.5 million in funding. Moving forward, it intends to amplify its investments in technology to improve user experience, streamline supply chain operations, and introduce groundbreaking features for retailers. The company enjoys support from prominent investors such as Kube VC, We Founder Circle, Iceland Venture Studio (IVS), Nyra Ventures, as well as the founders of Dunzo and Jar, among others.
Read More: FMCG platform Soptle raises $1M in funding, with Kube VC and We Founder Circle as lead investors
The micro SaaS-based B2B retail commerce platform aims to evolve into a comprehensive one-stop marketplace for the FMCG community. Its primary objective is to enhance value realization and income for both retailers and manufacturers. While the platform currently serves a significant number of retailers in the northern and central regions of India, such as Delhi, Uttar Pradesh, Madhya Pradesh, and Rajasthan, the company has ambitious plans to expand into new markets.
As it expands, Soptle is determined to provide a broad range of services and tools for FMCG retailers. The company aims to address various needs, including inventory management, sales data analysis, and marketing support. By establishing connections between retailers and manufacturers, Soptle’s platform endeavors to optimize the supply chain and enable both parties to maximize their profitability. With its expansion, Soptle seeks to offer comprehensive solutions that enhance efficiency and drive success in the FMCG industry.
Through its innovative approach, the startup revolutionizes the FMCG industry by providing nationwide distribution without any fixed costs. This empowering model enables FMCG manufacturers to significantly amplify their earnings by up to ten times. Moreover, retailers can take advantage of the platform to access products with significantly higher margins, ranging from 3 to 4 times higher than the industry average. Additionally, the platform offers retailers the opportunity to secure financing, empowering them to expand their operations and reach new heights of success. By offering these unique benefits, the startup transforms the landscape for both manufacturers and retailers in the FMCG sector.
