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US based new age e-commerce firm Thrasio bets big on India

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US based startup eyes Indian market

Third party e-commerce startup firm Thrasio is betting big on India as it announced entry into the country with a Rs 3,750 crore commitment.

“India is one of the fastest-growing regions for Amazon’s third-party marketplace, making it enticing for aggregators. This enormous opportunity, combined with the success of leading acquirers, has fuelled a rise in start-ups created under the rubric of the ‘Thrasio model’, the company said in a statement.

Also read: Despite Covid 19, more than 10,000 start-ups have come up in India in the last few months: PM

The US based new age company is backed by Silver Lake, Bloomberg Quint said, adding that it is one of a slew of startups looking to capitalize on Amazon’s e-commerce dominance by acquiring up-and-coming sellers on the company’s third-party marketplace.

“Thrasio and its peers buy out small merchants, sometimes mom-and-pop operations run out of garages, and plan to use their retail expertise to turn the acquisitions into global brands,” the news organisation said.

Meanwhile, India is looking to further make the ecosystem conducive for investments to pour in amid changing geopolitical scenario.