Company lists
The Mumbai edition · 2026

Horizontal e-commercecompanies in Mumbai

Marketplaces, grocery, fashion, second-hand, handicrafts and more: the companies building horizontal e-commerce in Mumbai, Maharashtra, with their founders, funding, team size and business models.

124 company profiles27 with reported revenue10 with recorded fundingOctober 2026 edition
Mumbai · Photo: Wikimedia Commons (Creative Commons Attribution-ShareAlike 4.0)

Recent horizontal e-commerce business events in India

Funding, M&A, contract wins and launches involving 2,257 horizontal e-commerce companies in India, last 24 months: 26 launches · 20 funding rounds · 15 M&A deals · 3 Contracts. Newest first; companies and investors link to their Fliar profiles. Latest event in our news feed: Jun 2026.

M&AAcquisition · Announced

Meesho acquires Kirana club

The renowned e-commerce company Meesho has acquired the platform 'Kirana Club' which serves small retailers. The deal of around ₹202 crore has given the opportunity to the existing…

Small retailers
FundingFresh Funding

Magicpin

Magicpin, a hyperlocal discovery and rewards platform, has raised $20 million, or Rs 142 crore, in a fresh round of funding led by venture capital firm Lightspeed Venture Partners.

Investors Lightspeed venture partners, Lightspeed India Partners, Waterbridge ventures
Hyperlocal discovery and rewards platform
ContractSupply

Welspun One · client: Amazon India

Signed deals include a 5.9 lakh sq. ft. single-box facility for Amazon India

Logistics
LaunchTata Neu

Tata digital

Among the most ambitious attempts is Tata Neu, the super app developed by Tata Digital. Launched to unify the Tata Group's consumer businesses under one platform, Tata Neu combines…

Super App
LaunchMyntra EORS

Myntra

Myntra EORS Set To Empower 15,000 Emerging Brands Across Indian Fashion Ecosystem Advancing its role as a growth catalyst for India's e-lifestyle ecosystem, Myntra has announced the...

Fashion / E-commerce Support
M&AMerger · Announced

Amazon India acquires Amazon MX Player

Amazon India on Thursday announced the strategic merger of Amazon MX Player and Prime Video, creating a single, comprehensive streaming platform.

Streaming
LaunchDoctor on Call

Flipkart

In addition to training employees to recognise the signs of heat stress early on, Flipkart is enhancing rest rooms, making sure employees have access to water, providing 'Doctor on Call'…

Health Service
LaunchFlipkart Minutes

Flipkart

Flipkart is considering launching a dedicated app for its quick commerce vertical, Flipkart Minutes, according to a report by Economic Times.

Quick Commerce
LaunchE.l.f. Cosmetics

Myntra

Bengaluru, 21 April 2026: Myntra recently announced the addition of the popular American beauty brand e.l.f. Cosmetics on its platform.

Beauty
LaunchVaani

Meesho

eCommerce platform Meesho on Tuesday announced the launch of ’Vaani’, a generative AI-powered conversational voice shopping assistant.

Conversational AI Voice Shopping Assistant
FundingSeries A

Dslr technologies

DSLR Technologies, the parent company of ethnic wear brand Aramya, has raised Rs. 80 crore (US $ 8.82 million) in its Series A funding round from existing investors Z47 (formerly Matrix…

Investors Z47 (formerly Matrix Partners India), Accel india
Consumer Fashion
M&AAcquisition · Announced

Vela LatAm acquires Onegreen

With the movement, whose value has not been disclosed (which is of praxe in the advertisements of Vela LatAm), Onegreen's operation becomes integrated into Ius Natura.

Technology for environmental licensing management
ContractService

Publicis Groupe’s Starcom India · client: Flipkart

Walmart-owned Flipkart has awarded its integrated media mandate, estimated to be worth around ₹750 crore, to Publicis Groupe’s Starcom India

Media Services
M&AAcquisition · Announced

Arvind fashions acquires Flipkart

the company said it has entered a into a share purchase agreement with Flipkart India Pvt. Ltd. to acquire its entire shareholding of 31.25% in its subsidiary Arvind Youth Brands Pvt. Ltd.

FundingInvestment

Tata digital

Tata Digital, its e‑commerce business comprising BigBasket, Tata 1mg, Croma and Cliq, received nearly $4.7 billion ( ₹42,121 crore) since its inception in March 2019.

Investors Tata sons
E‑commerce
FundingPre-Series A

Meolaa

Meolaa raises $6 Mn to scale FMCG direct-to-consumer operations

FMCG / Direct-to-consumer
M&AAcquisition · Announced

Na acquires Flipkart

Flipkart exited Aditya Birla Fashion and Retail (ABFRL) by selling its entire 6 per cent stake in the fashion retailer for Rs 588 crore.

ContractSupply

Quality meat packers · client: Lulu Hypermarket

The company has signed agreements with Lulu Hypermarket and Nesto Group in the Gulf region, as well as with Kin Marché supermarkets in eastern DRC.

FundingEquity

Snapmint

No-cost EMI platform Snapmint, which last raised capital in December, is now preparing for a major equity funding round

Investors Anicut capital, 9Unicorns, Perpetuity Ventures, Pegasus FinInvest
FundingSeries D

Citymall

Update: Citymall has secured $47 million in its Series D funding round led by Accel, with $41 million raised through equity and the balance via debt.

Investors Accel, Waterbridge ventures, Citius, Norwest Capital
E-commerce grocery
Funding

Snapdeal

Jasper Infotech running online marketplace Snapdeal is talking to existing and new investors to raise around $30 crore i.e. Rs 2,000 crore.

Investors Na
Online marketplace
M&AAcquisition

Cartrade tech acquires Olx india

Agarwal also cited CarTrade's takeover of OLX India’s auto division as a key advantage. 'The company has acquired OLX and it will start monetising it soon,' he said.

Funding

Infibeam

FinTech firm Infibeam raises $84.3M in oversubscribed rights issue.

M&AAcquisition · Announced

QBCRA/Consignaction acquires Recycan

The Quebec Beverage Container Recycling Association (QBCRA/Consignaction) is proud to announce the acquisition of Recycan Inc.

M&AAcquisition · Announced

Association québécoise de récupération des contenus de boissons (AQRCB)/Consignaction acquires Recycan

"The Association québécoise de récupération des contenus de boissons (AQRCB)/Consignaction is proud to announce the acquisition of Recycan Inc., a company specialized in the collection…

FundingPre-Series A

Dslr technologies

DSLR Technologies, a D2C e-commerce platform, is raising Rs 18.96 crore ($2.24 million) in a pre-Series A round from existing investors Z47 (formerly Matrix Partners India) and Accel India.

Investors Z47, Accel india
D2C e-commerce
FundingPre-seed

Brown living

Brown Living, a leading platform in India promoting sustainable and plastic-free living, secured pre‑seed funding to boost its growth. The funding, led by Blink Digital, totaled USD…

Investors Blink digital, Sanjay Nayar of Sorin Investments, Bharat Iyer
Sustainability / Eco-friendly consumer goods

Horizontal e-commerce companies in Mumbai, by revenue

Browse horizontal e-commerce companies in Mumbai by reported revenue, one-year revenue growth, revenue model, age and stage. The 27 companies below are the largest by their most recent reported revenue among 27 horizontal e-commerce companies in Mumbai, Maharashtra that have filed a figure in the last four years. Every figure keeps its own reporting period, so compare periods before comparing amounts.

Showing 25 of 27

Provider of integrated digital ecosystem and financial services platform

Horizontal e-commerce
₹32,187.54 crFY 2024-25
+5%2024–2025
835-10% 12 mo to Mar 2024recorded Mar 2024
7 yr2019
0none in 3 months · last posted Feb 2026

Retailer of apparel, accessories, beauty products, home décor, and tech

Fashion tech
₹7,977.08 crFY 2024-25
+24%2024–2025
547-75% 12 mo to Aug 2023recorded Aug 2023
14 yr2012
1postings · last posted Sep 2026

Application-based platform offering on demand grocery delivery service

Online grocery
US$258.31mFY 2022-23
Not reported
18,874+73% 12 mo to Aug 2024LinkedIn · Jul 2026
6 yr2020
0none in 3 months

Provider of an e-commerce platform for online shopping

Horizontal e-commerce
₹1,118.13 crFY 2024-25
+26%2024–2025
818LinkedIn · Jul 2026
25 yr2001
4postings · last posted Sep 2026

Manufacturer of rubber rollers, rubber coupling bushes & rubber bushes

Horizontal e-commerce
₹459.14 crFY 2024-25
+36%2024–2025
12LinkedIn · Jul 2026
22 yr2004
0none in 3 months

Online marketplace offering multi-category consumer products

Horizontal e-commerce
₹296.32 crFY 2024-25
+14%2024–2025
475-36% 12 mo to Sep 2024recorded Sep 2024
10 yr2016
2postings · last posted Sep 2026

Online marketplace offering multi-category products

Horizontal e-commerce
₹241.45 crFY 2022-23
Not reported
918-14% 12 mo to Mar 2023LinkedIn · Jul 2026
18 yr2008
0none in 3 months · last posted Dec 2025

Online retailer of electronics, appliances, fashion, and home and kitchenware

Horizontal e-commerce
₹152.26 crFY 2024-25
Not reported
7+9% 12 mo to Jul 2024LinkedIn · Jul 2026
9 yr2017
13postings · last posted Sep 2026

Retailer of skincare and cosmetic products sourced from international brands

Beauty tech
₹86.40 crFY 2023-24
+178%2023–2024
23LinkedIn · Jul 2026
10 yr2016
0none in 3 months · last posted Jul 2026

Online marketplace offering multi-category products

Horizontal e-commerce
₹40.70 crFY 2024-25
+32%2024–2025
2+111% 12 mo to Sep 2024LinkedIn · Jul 2026
7 yr2019
0none in 3 months

Online retailer offering multi-category products

Horizontal e-commerce
₹24.51 crFY 2023-24
Not reported
6+1000% 12 mo to Jun 2023LinkedIn · Jul 2026
17 yr2009
0none in 3 months

Online retailer of multi-category products

Horizontal e-commerce
₹5.24 crFY 2021-22
Not reported
—Not available
11 yr2015
—No postings tracked

Online retailer and marketplace for curated sustainable, plastic-free lifestyle products

Horizontal e-commerce
₹3.07 crFY 2024-25
+17%2024–2025
18LinkedIn · Jul 2026
7 yr2019
0none in 3 months · last posted Jun 2026

Online platform to order handmade apparel and other items

Horizontal e-commerce
₹2.88 crFY 2024-25
+264%2024–2025
—Not available
13 yr2013
0none in 3 months

Online marketplace offering multi-category products

Horizontal e-commerce
₹1.23 crFY 2023-24
+199%2023–2024
—Not available
5 yr2021
0none in 3 months

Online retailer of women's fashion jewelry, including necklaces and bangles

Fashion accessories
₹72.47 lakhFY 2024-25
-17%2024–2025
—Not available
7 yr2019
0none in 3 months

Online platform offering grocery, and wellness products

Horizontal e-commerce
₹63.54 lakhFY 2024-25
+166%2024–2025
2LinkedIn · Jul 2026
3 yr2023
0none in 3 months

App based reverse auction platform

Horizontal e-commerce
₹46.21 lakhFY 2021-22
Not reported
10-98% 12 mo to Apr 2024LinkedIn · Jul 2026
19 yr2007
0none in 3 months

Provider of online marketplace for locally made consumer products

Horizontal e-commerce
₹45.57 lakhFY 2024-25
-38%2024–2025
—Not available
10 yr2016
0none in 3 months

Online marketplace platform offering multi-category eco friendly products

Horizontal e-commerce
₹43.41 lakhFY 2024-25
+96%2024–2025
—Not available
5 yr2021
0none in 3 months

App-based car rental platform

Road transport tech
₹11.15 lakhFY 2024-25
-30%2024–2025
6LinkedIn · Jul 2026
6 yr2020
0none in 3 months

Online marketplace platform offering multi-category products

Horizontal e-commerce
₹8.50 lakhFY 2024-25
+243%2024–2025
—Not available
5 yr2021
0none in 3 months

Online store offering foods and snacks

Horizontal e-commerce
₹3.44 lakhFY 2024-25
-3%2024–2025
3LinkedIn · Jul 2026
5 yr2021
0none in 3 months

Online platform for subscription boxes

Horizontal e-commerce
₹0.84 lakhFY 2021-22
+24%2021–2022
1LinkedIn · Jul 2026
9 yr2017
0none in 3 months

Online marketplace offering multi-category handcraft products

Horizontal e-commerce
₹0.40 lakhFY 2024-25
+12%2024–2025
8LinkedIn · Jul 2026
12 yr2014
0none in 3 months
27 of 124 companies shown here · the full list is on Radar
Fliar Radar

Explore all 124 horizontal e-commerce companies in Mumbai on Radar

This page shows the top 27. Radar has the complete, filterable list with contacts and live company signals.

Open horizontal e-commerce in Mumbai on Radar
  • Every company, not just 50All 124 horizontal e-commerce companies in Mumbai, filterable by stage, funding, team size, revenue model and age.
  • Founders and decision-makersLeadership teams with roles and verified LinkedIn profiles, ready for outreach.
  • Live signalsFunding rounds, hiring, launches and M&A as they happen, with alerts on the companies you follow.
  • Save and exportBuild lists, compare companies side by side and export them from your Radar account.

Explore horizontal e-commerce companies in Mumbai by what you are looking for

Find top horizontal e-commerce companies in Mumbai, including multi-category online stores, marketplaces and quick-commerce grocery apps. You can also browse e-commerce startups in Mumbai and companies hiring now.

8 ways to explore horizontal e-commerce in Mumbai

Online marketplaces & multi-category storesOnline grocery & quick delivery appsOnline fashion & lifestyle brandsSecond-hand, rental & P2P marketplacesHandicrafts, eco-friendly & internet-first brandsE-commerce enablers & software providers

Online marketplaces & multi-category stores

General online stores and marketplaces selling many product categories.

  1. Nykaa Fashion

    Retailer of apparel, accessories, beauty products, home décor, and tech

    Fashion tech
    See in list
  2. Zepto

    Application-based platform offering on demand grocery delivery service

    Online grocery
    See in list
  3. Apparel Group

    Provider of an e-commerce platform for online shopping

    Horizontal e-commerce
    See in list
  4. Tata CLiQ

    Online marketplace offering multi-category consumer products

    Horizontal e-commerce
    See in list
  5. Snapmint

    Online retailer of electronics, appliances, fashion, and home and kitchenware

    Horizontal e-commerce
    See in list

Online grocery & quick delivery apps

Apps and stores delivering groceries and daily needs to your door.

  1. Zepto

    Application-based platform offering on demand grocery delivery service

    Online grocery
    See in list
  2. Vidya Vins

    Online platform offering grocery, and wellness products

    Horizontal e-commerce
    See in list
  3. The Better Shop

    Online store offering foods and snacks

    Horizontal e-commerce
    See in list
  4. Oybazaar

    Online grocery and daily needs retailer offering home delivery

    Horizontal e-commerce
    Website
  5. sosh design

    Sosh Design is a graphic design company that offers logo design and retail packaging design services.

    Second hand goods
    Website

Online fashion & lifestyle brands

Online apparel, footwear, accessories and jewellery brands.

  1. Nykaa Fashion

    Retailer of apparel, accessories, beauty products, home décor, and tech

    Fashion tech
    See in list
  2. Padmawati Bangles

    Online retailer of women's fashion jewelry, including necklaces and bangles

    Fashion accessories
    See in list
  3. PotliArts

    Online retailer of tribal and folk art and crafts

    Horizontal e-commerce
    See in list
  4. Maatiprem

    Online retailer of handloom and handmade clothing, bags, and bedding

    Apparel brands
    Website
  5. UniWardrobe

    Provider of customizable apparel, including t-shirts, hoodies, jackets, and corporate wear

    Horizontal e-commerce
    Website

Second-hand, rental & P2P marketplaces

Platforms for buying, selling, renting and auctioning pre-owned goods.

  1. BZINGA

    App based reverse auction platform

    Horizontal e-commerce
    See in list
  2. Zymo

    App-based car rental platform

    Road transport tech
    See in list
  3. YBuySell

    Online P2P rentals portal

    Horizontal e-commerce
    Website
  4. Ezze

    Online second hand listings platform

    Horizontal e-commerce
    Website
  5. The Rental Studio

    Online rental platform offering multi-category products and accessories

    Horizontal e-commerce
    Website

Handicrafts, eco-friendly & internet-first brands

Direct-to-consumer brands selling handmade, eco-friendly and gifting products.

  1. Tisser India

    Online platform to order handmade apparel and other items

    Horizontal e-commerce
    See in list
  2. Megastores

    Online marketplace offering multi-category handcraft products

    Horizontal e-commerce
    See in list
  3. PropShop24

    Retailer of quirky gifts, cute stationery, organizers, and home essentials

    Online gifting
    See in list
  4. Smaller Footprint

    Internet first brand offering multi-category eco-friendly and sustainable products

    Horizontal e-commerce
    Website
  5. Maatiprem

    Online retailer of handloom and handmade clothing, bags, and bedding

    Apparel brands
    Website

E-commerce enablers & software providers

Storefront, catalog and operations tools that help brands sell online.

  1. ByBuy

    App-based hyperlocal marketplace for multi-category products

    E-commerce enablers
    Website
  2. Shupple

    Online eCommerce platform that offers services to D2C brands, retail stores, and local businesses

    E-commerce enablers
    Website
  3. custex

    Custex provides e-commerce catalog and product listing solutions.

    Horizontal e-commerce
    Website
  4. Lofaz

    Provider of storefront solutions for e-commerce businesses

    Horizontal e-commerce
    Website
  5. Digital Dukaan

    A digital commerce platform that allows businesses to create an online storefront and sell products or services

    Horizontal e-commerce
    Website

Horizontal e-commerce startups in Mumbai

Recently founded e-commerce companies based in Mumbai.

  1. DAiNMART

    Online marketplace offering multi-category products

    Horizontal e-commerce
    See in list
  2. Vidya Vins

    Online platform offering grocery, and wellness products

    Horizontal e-commerce
    See in list
  3. The Better Shop

    Online store offering foods and snacks

    Horizontal e-commerce
    See in list
  4. Maatiprem

    Online retailer of handloom and handmade clothing, bags, and bedding

    Apparel brands
    Website
  5. Aadivasi

    Online shopping platform offering a wide range of eco-friendly products

    Horizontal e-commerce
    Website
22 companies in Mumbai

Horizontal e-commerce companies hiring in Mumbai

E-commerce companies in Mumbai with open jobs right now.

  1. Tata Digital

    Provider of integrated digital ecosystem and financial services platform

    Horizontal e-commerce
    See in list
  2. Nykaa Fashion

    Retailer of apparel, accessories, beauty products, home décor, and tech

    Fashion tech
    See in list
  3. Apparel Group

    Provider of an e-commerce platform for online shopping

    Horizontal e-commerce
    See in list
  4. Naaptol

    Online marketplace offering multi-category products

    Horizontal e-commerce
    See in list
  5. Snapmint

    Online retailer of electronics, appliances, fashion, and home and kitchenware

    Horizontal e-commerce
    See in list
7 companies in Mumbai
Mobile reach

Top 10 horizontal e-commerce apps from Mumbai

The most-installed Android apps published by horizontal e-commerce companies headquartered in Mumbai — 297.3M installs between them. 11 companies on this page publish at least one app; each company (legal entity) appears once, with its most-installed app.

1 of 10
1

Zepto: Groceries in minutes

by Zepto

Installs133.8M
Rating4.664.5M ratings
Installs, year on year+35%
Last updatedJun 2026
View on Google Play ↗
Zepto: Groceries in minutes screenshot 1Zepto: Groceries in minutes screenshot 2Zepto: Groceries in minutes screenshot 3Zepto: Groceries in minutes screenshot 4Zepto: Groceries in minutes screenshot 5Zepto: Groceries in minutes screenshot 6
2

Nykaa Fashion – Shopping App

by Nykaa Fashion

Installs70.9M
Rating4.73301K ratings
Installs, year on year+31%
Last updatedMay 2026
View on Google Play ↗
Nykaa Fashion – Shopping App screenshot 1Nykaa Fashion – Shopping App screenshot 2Nykaa Fashion – Shopping App screenshot 3Nykaa Fashion – Shopping App screenshot 4Nykaa Fashion – Shopping App screenshot 5Nykaa Fashion – Shopping App screenshot 6
3

Tata CLiQ Fashion Shopping

by Tata CLiQ

Installs69.1M
Rating4.31346K ratings
Last updatedMay 2026
View on Google Play ↗
Tata CLiQ Fashion Shopping screenshot 1Tata CLiQ Fashion Shopping screenshot 2Tata CLiQ Fashion Shopping screenshot 3Tata CLiQ Fashion Shopping screenshot 4Tata CLiQ Fashion Shopping screenshot 5Tata CLiQ Fashion Shopping screenshot 6
4

Craftsvilla - Shop Indian

by Craftsvilla

Installs15.0M
Rating4.068K ratings
Installs, year on year+1%
Last updatedMar 2025
View on Google Play ↗
Craftsvilla - Shop Indian screenshot 1Craftsvilla - Shop Indian screenshot 2Craftsvilla - Shop Indian screenshot 3Craftsvilla - Shop Indian screenshot 4Craftsvilla - Shop Indian screenshot 5Craftsvilla - Shop Indian screenshot 6
5

Naaptol: Shop Right Shop More

by Naaptol

Installs8.2M
Rating3.4741K ratings
Last updatedMar 2026
View on Google Play ↗
Naaptol: Shop Right Shop More screenshot 1Naaptol: Shop Right Shop More screenshot 2Naaptol: Shop Right Shop More screenshot 3
6

Zymo: Self Drive Car Rental

by Zymo

Installs178K
Rating—
Installs, year on year+18%
Last updatedJan 2026
View on Google Play ↗
Zymo: Self Drive Car Rental screenshot 1Zymo: Self Drive Car Rental screenshot 2Zymo: Self Drive Car Rental screenshot 3Zymo: Self Drive Car Rental screenshot 4Zymo: Self Drive Car Rental screenshot 5Zymo: Self Drive Car Rental screenshot 6
7

VidyaVins Grocery - Ballia

by Vidya Vins

Installs24K
Rating—
Last updatedMay 2024
View on Google Play ↗
VidyaVins Grocery - Ballia screenshot 1VidyaVins Grocery - Ballia screenshot 2VidyaVins Grocery - Ballia screenshot 3VidyaVins Grocery - Ballia screenshot 4VidyaVins Grocery - Ballia screenshot 5VidyaVins Grocery - Ballia screenshot 6
8

Digital Dukaan Lofaz - Seller

by Lofaz

Installs3K
Rating—
Last updatedMay 2026
View on Google Play ↗
Digital Dukaan Lofaz - Seller screenshot 1Digital Dukaan Lofaz - Seller screenshot 2Digital Dukaan Lofaz - Seller screenshot 3Digital Dukaan Lofaz - Seller screenshot 4Digital Dukaan Lofaz - Seller screenshot 5Digital Dukaan Lofaz - Seller screenshot 6
9

Megastores Everything Handmade

by Megastores

Installs2K
Rating—
Last updatedOct 2025
View on Google Play ↗
Megastores Everything Handmade screenshot 1Megastores Everything Handmade screenshot 2Megastores Everything Handmade screenshot 3Megastores Everything Handmade screenshot 4Megastores Everything Handmade screenshot 5Megastores Everything Handmade screenshot 6
10

BUYSAB Vendor - Sell & Earn

by BUYSAB

Installs1K
Rating—
Last updatedSep 2025
View on Google Play ↗
BUYSAB Vendor - Sell & Earn screenshot 1BUYSAB Vendor - Sell & Earn screenshot 2BUYSAB Vendor - Sell & Earn screenshot 3BUYSAB Vendor - Sell & Earn screenshot 4BUYSAB Vendor - Sell & Earn screenshot 5BUYSAB Vendor - Sell & Earn screenshot 6
The business behind the activity

Horizontal e-commerce financials in Mumbai

Revenue, profit and growth from the filed annual accounts of 23 horizontal e-commerce companies in Mumbai, Maharashtra for FY24-25 — 32 of the 124 companies on this page file accounts with the Ministry of Corporate Affairs. The five largest earn 90% of the revenue, so medians describe the typical company better than totals.

combined revenue, FY24-25₹3,034.62 cr

23 companies filing accounts

combined net profit−₹202.13 cr

-6.7% aggregate margin

are profitable35%

8 of 23 companies

median revenue~₹2.9 cr

the typical company

median revenue growth+17%

into FY24-25

earned by the top five90%

revenue concentration

Six-year view

Combined revenue of filing companies

₹956.76 crFY19-2016 filers
₹1,096.94 crFY20-2118 filers
₹1,938.63 crFY21-2220 filers
₹1,689.22 crFY22-2322 filers
₹2,442.36 crFY23-2425 filers
₹3,034.62 crFY24-2523 filers

The number of companies filing changes each year; the three-year cohort below compares like with like.

Like-for-like

The same 20 companies over three years

+45%
FY22-23₹1,688.81 cr−₹900.13 cr net
FY23-24₹1,943.94 cr−₹453.03 cr net
FY24-25₹2,456.70 cr−₹299.45 cr net

Companies with accounts for all three years, so growth is not an artefact of who filed.

Scale and profit

Bigger companies are far more often profitable

Under ₹1 cr1010% profitable
₹1–10 cr450% profitable
₹10–100 cr367% profitable
₹100–1,000 cr540% profitable
Over ₹1,000 cr1100% profitable

Companies by FY24-25 revenue. Bars show how many companies sit in each band.

Momentum

How fast revenue moved into FY24-25

Shrinking6
0–20%5
20–50%4
50–100%4
Doubled+2

21 companies with accounts for both years; median growth +17%.

Profitability

Profit is concentrated at the top

8profitable
15loss-making
-6.7%aggregate margin
-6.8%median margin

The aggregate margin is pulled up by a few large filers; the median shows the typical company.

Growth leaders · ₹10 cr+ revenue

Fastest growing, FY24-25

CompanyGrowthRevenue
SnapmintSNAPMINT CREDIT ADVISORY PRIVATE LIMITED+78%₹76.75 cr
IndiglobalshopSUN ARK SERVICES PRIVATE LIMITED+54%₹17.55 cr
LimeseLIMESE RETAIL PRIVATE LIMITED+47%₹161.54 cr
J P PolymersJ P POLYMERS PRIVATE LIMITED+36%₹459.14 cr
aanswrAANSWR FASHION PRIVATE LIMITED+32%₹40.70 cr
Apparel GroupAPPAREL GROUP INDIA PRIVATE LIMITED+26%₹1,118.12 cr
Profit leaders · ₹10 cr+ revenue

Highest net margins, FY24-25

CompanyMarginRevenue
Nykaa FashionFSN E-COMMERCE VENTURES LIMITED16.9%₹577.28 cr
SnapmintSNAPMINT CREDIT ADVISORY PRIVATE LIMITED6.6%₹76.75 cr
J P PolymersJ P POLYMERS PRIVATE LIMITED5.4%₹459.14 cr
Apparel GroupAPPAREL GROUP INDIA PRIVATE LIMITED2.1%₹1,118.12 cr
IndiglobalshopSUN ARK SERVICES PRIVATE LIMITED1.0%₹17.55 cr
Inside the industry

Sub-sectors compared, FY24-25

Sub-sectorCompaniesRevenueMedian revenueProfitableMargin
Horizontal e-commerce19₹2,295.08 cr~₹2.9 cr32%-12.6%
Leaders

Largest horizontal e-commerce companies by revenue, FY24-25

Company · legal entityRevenueNet resultMarginGrowth
Apparel GroupAPPAREL GROUP INDIA PRIVATE LIMITED₹1,118.12 cr₹23.08 cr2.1%+26%
Nykaa FashionFSN E-COMMERCE VENTURES LIMITED₹577.28 cr₹97.36 cr16.9%+16%
J P PolymersJ P POLYMERS PRIVATE LIMITED₹459.14 cr₹24.95 cr5.4%+36%
Tata CLiQTATA UNISTORE LIMITED₹296.32 cr−₹314.32 cr-106.1%+14%
NaaptolNAAPTOL ONLINE SHOPPING PRIVATE LIMITED₹270.27 cr−₹8.01 cr-3.0%+11%
LimeseLIMESE RETAIL PRIVATE LIMITED₹161.54 cr−₹10.94 cr-6.8%+47%
SnapmintSNAPMINT CREDIT ADVISORY PRIVATE LIMITED₹76.75 cr₹5.06 cr6.6%+78%
aanswrAANSWR FASHION PRIVATE LIMITED₹40.70 cr−₹16.74 cr-41.1%+32%
IndiglobalshopSUN ARK SERVICES PRIVATE LIMITED₹17.55 cr₹16.81 lakh1.0%+54%
LoopifyLOOPIFY WORLD PRIVATE LIMITED₹1.01 cr13.6%
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Standalone annual accounts filed with the Ministry of Corporate Affairs. Brands that share one legal entity are shown together and counted once.

Industry landscape report

AdTech Industry Landscape of Mumbai

The financials above are one chapter. The full horizontal e-commerce landscape of Mumbai maps the whole industry — every segment, the capital behind it, the talent market and where the next opportunities are.

  • Market map of every sub-sector
  • Funding & company formation by year
  • Revenue, profit & financial strength
  • Digital footprint: traffic, apps, releases
  • Hiring, skills & pay
  • Founders & leaders
  • News & sentiment
  • Where demand runs ahead of supply
Read the horizontal e-commerce landscape of Mumbai
For investors and data teams

Put this intelligence into your own tools

The figures on this page come from Fliar’s company, funding and MCA filings data. Use it through the Investor Intelligence API and MCA financials feeds, or explore every company, filing and investor in Radar.

Capital & corporate activity

Horizontal e-commerce funding and M&A across India

318 recorded equity rounds have gone to 2,257 horizontal e-commerce companies in India — how much, at which stage, into which sub-sectors, from whom, and how Mumbai compares. Debt, IPO and grant rounds are excluded.

equity rounds, last 12 months3

US$573k

equity rounds, last 24 months19

US$196.80m

raised over five yearsUS$6.14bn

98 rounds in India

M&A deals, India15

last 24 months

Capital by year

Equity funding into horizontal e-commerce in India

amount rounds
$647m201824
$372m201924
$85m202012
$4.5bn202122
$136m202223
$653m202321
$659m202414
$179m202516
$189k20262

Bars show US$ raised; the number under each year is equity rounds. 2026 is year to date. The peak year was 2021, with US$4.52bn across 22 rounds.

The funding ladder · five years

Rounds and typical cheque by stage

AngelUS$2.77m17 rounds · median US$88k
SeedUS$43.74m44 rounds · median US$300k
Series AUS$97.12m20 rounds · median US$3.61m
Series BUS$161.22m5 rounds · median US$13.00m
Series CUS$103.72m4 rounds · median US$27.00m
Series D+US$1.19bn5 rounds · median US$287.50m
Where the money went · five years

Most-funded sub-sectors

Horizontal e-commerceUS$5.93bn74 rounds · 36 companies
Social commerceUS$149.79m5 rounds · 1 companies
Beauty & personal care productsUS$39.15m4 rounds · 1 companies
Beauty techUS$10.43m5 rounds · 1 companies
Apparel brandsUS$7.44m1 rounds · 1 companies
Internet first mediaUS$6.00m1 rounds · 1 companies
3d printing and 3d scanning servicesUS$2.28m4 rounds · 1 companies
Corporate activity · last 24 months

M&A in India

13Acquisition
2Merger

Most active acquirers

  1. Flipkart6
  2. Amazon India2
  3. Meesho1
  4. Vela LatAm1
  5. Arvind fashions1

Most acquired or merged

  1. Flipkart2
  2. Recycan2
  3. Kirana club1
  4. Amazon MX Player1
  5. Onegreen1

Each deal appears in the events strip at the top of the page.

Horizontal e-commerce funding in Mumbai

10 horizontal e-commerce companies in Mumbai have recorded equity funding, US$245.25m in total. Totals and round dates describe the historical record; they are not current valuations.

Founders and momentum in Mumbai

Meet the people behind horizontal e-commerce companies in Mumbai. 58 of 124 companies list founders or leaders; where a public LinkedIn profile matches exactly, the expanded profile shows the photo, headline, location and education.

Keep exploring horizontal e-commerce in India and nearby markets.

Coming soon