Wishlink Secures $7 Million Funding from Fundamentum and Elevation
In a recent development, Bengaluru-based creator-focused commerce startup, Wishlink, has successfully raised $7 million in a funding round led by The Fundamentum Partnership Fund and Elevation Capital. This infusion of fresh capital marks a significant milestone for the company, arriving after a hiatus of 15 months.
As per regulatory filings accessed from the Registrar of Companies, Wishlink’s board has passed a special resolution to issue 12,945 Series A CCPS at an issue price of Rs 44,882 each, generating a total of Rs 58.1 crore.
According to TheKredible, a startup data intelligence platform, Wishlink is currently valued at approximately $30 million post-allotment. With this recent investment, the company’s total funding to date surpasses $10 million.
Elevation Capital now holds the largest external stake in Wishlink with 22.93%, closely followed by The Fundamentum Partnership Fund at 13.55%.
Founded by Chandan Yadav, Shaurya Gupta, and Divyansh Ameta, Wishlink has positioned itself as a platform enabling creators on various social media channels to drive commerce for brands through personalized multi-brand storefronts. The company has developed a robust tech stack to seamlessly guide creators from social media platforms to brands’ websites, facilitating customer acquisition.
Wishlink boasts a portfolio of over 60 brands, including names like H&M, Westside, Faballey, Indya, Aurelia, Wrogn, Libas, GOAT Brand Labs, Amazon, and Flipkart, among others.
Notably, Wishlink closed its seed round of $3 million in October 2022, led by Elevation Capital and supported by high-profile angels such as Vidit Aatrey, Sanjeev Barnwal, Rahul Chaudhary, Ankush Sachdeva, and Ghazal Alagh.
For the fiscal year ending March 2023, Wishlink reported a revenue of Rs 1.42 crore, while its losses stood at Rs 6.67 crore. The company operates in a competitive landscape, facing both direct and indirect competition from players like Peepul Tree, HYPD Store, and Redesyn, among others.
