FirstClub Secures $55M Series B, Valuation Doubles to $255M
IBN•FirstClub secured $55 million in Series B funding co-led by Peak XV Partners and Sofina, doubling its valuation to $255 million and raising total funding to $86 million. It has processed 1 million orders from 170,000 households, reached a merchandise volume of $50 million and plans to expand into Hyderabad.
1. Series B Funding Doubles Valuation
FirstClub closed a $55 million Series B round co-led by Peak XV Partners and Sofina, raising its valuation to $255 million from $120 million just nine months after its prior round. Existing backers Accel, RTP Global and Paramark Ventures also participated, bringing total funding to $86 million.
2. Operational Performance and Metrics
Since launching in 2024, the quick-commerce platform has processed more than 1 million orders across 170,000 households, achieving an annual gross merchandise volume of $50 million. Customers average over four orders per month and spend around ₹1,200 per order, with 60% of its base in women-led households.
3. Expansion Strategy and Growth Plans
FirstClub operates 21 stores in Bengaluru and three in Hyderabad and plans to expand further into both cities. The startup will use new capital to deepen its fresh produce quality checks, roll out home and kitchen essentials, and develop exclusive branded products.
