Turnover
https://turnover.bizAbout
Turnover’s mission: Democratizing B2B commerce | Launching this year 2024 | Chance to be a part of our core team is now!
NOTE: We are building our team of first engineers and we prefer folks who have the willingness and excitement to build things from scratch.
Turnover’s mission is to democratize B2B commerce leveraging data and technology, using new features, mimicking wholesale behaviors online, and offering global expansion to brands and suppliers.
Turnover is a new age business marketplace for brands and wholesalers to sell their products better to their business customers. Turnover is packed with new age features, AI powered algorithms, and cutting edge analytics.
Founded by Anurag Jhaver, the startup is a new age, global B2B marketplace for resellers and retailers. The startup has multiple new age, never seen before features mapped out. The vision of the company is to be among the largest brand focused B2B marketplace globally and be a decacorn in the coming decade.
Anurag has dabbled across product management, venture capital, private equity and consulting post graduating from IIT Guwahati in 2016. As a growth PM, he built the web product at Anar managing the launch and upkeep of million+ pages. He also led referral and reactivation at Anar, increasing M1-M12 by 5%, and enabling MAU growth of 20%. Prior to Anar, at First Cheque, Anurag assisted multiple startups with their Seed/ Series A fundraise from Tier 1 VCs. He was associated with TVS Capital and PwC earlier.
We have ~$500K in commits from top VCs in India and valley investors. In the midst of closing the round (expected closure: Feb end, $1M + round size).
We are really excited to meet and see a better and common future with you!
Click here to read more about us: https://www.turnover.biz/blog/turnover-introduction
Tech stack
Candid answers by the company
Retail commerce has seen rapid evolution in the past decade - Wide assortment, AI powered recommendations, same day delivery, influencer led marketing and sales, social apps extending to ecommerce, new category focused platforms popping up, easy to use ecommerce tools, along with rapid shift from offline to online sales. Though B2B trade globally has increased, it is yet to meet the same phenomena which B2C commerce has witnessed.
Brands face challenges in scaling, specially globally:
- Relevant distribution partners: Brands have to go through a manual search and vetting process to look for relevant distributors and retailers who can distribute products specially beyond their existing geographies which fits with the brand ethos, positioning and customer audience
- Cross border issues: Custom clearance requires extensive documentation and rules vary from country to country
- Offline scaling is hard: Scaling offline channel such as convenience, grocery, super and hypermarket stores for new age brands is not as easy and requires extensive push sales
- Trust: Existing global B2B Marketplaces do not generate trust for brands to list their products, nor do they get relevant suppliers who can scale their sales
From a distributor and retailer point of view as well, they face issues identifying new brands and getting relevant data:
- Lack of relevant data: Distributors and retailers do not have the necessary sales data at a SKU and a channel level for the brand to be able to make purchase decision
- Finding new brands: Existing platforms do not help retailers and distributors discover new brands, sample products, and buy in wholesale quantity from the brands directly
- Quantity mismatch: Small sized retailers fail to acquire goods from brands directly as they seek to order lower quantities
- Counterfeit products: Existing B2B marketplaces have unauthorized distributors and sellers pushing counterfeit products which does not generate buyer trust
- Lack of relevant features: Wholesale (offline) behaviors are volume driven, which existing platforms do not mimic online
Turnover’s mission is to solve the above challenges. We aim to democratize B2B commerce leveraging data and technology, using new features, mimicking wholesale behaviors online, and offering global expansion to brands and suppliers.
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