Let's Barter India raises angel round led by Scale Ventures

Let’s Barter India, an online community to barter products and services raised an undisclosed amount in angel funding led by Scale Ventures and Sanjay Choudhary of Crowdinvest. The funds will be used to boost the growth rate of Let’s Barter, increase their reach to new markets and build a team to introduce people with the concept of barter enabled through technology.

Rahul Narvekar, cofounder of Scale Ventures thinks this company has potential to scale and connect with the youth of the country. “We will ideate with Let’s Barter ideas on how to scale their business by possible tie-ups with e-commerce portals, restaurants and dating sites,” he said.

Let’s Barter was started in September 2015 as a Facebook group, followed by the launch of its app in August this year. Headquartered in New Delhi, the company was founded by Pooja Bhayana and Sahil Dhingra.

“Our vision is to take the concept of barter to all cities and towns of India,” said Dhingra. “We are building an alternate avenue for Indians to get more value for their used goods rather than selling it for low prices on classified sites.”

Let’s Barter India runs a Facebook group with over 1,83,000 members.