Citymall’s Financials, Revenue, Profit, Valuation & Shareholding Overview (2025)
Legal Name: Rashanbox Retail Private Limited | CIN: U52190HR2020PTC086114
Founded in 2019 by Angad.K and Naisheel Verdhan, CityMall is a community commerce platform targeting India's tier-2 and tier-3 cities. CityMall enables micro-entrepreneurs (called community leaders) to sell grocery and household products to their local networks, combining social trust with group buying power. The platform has disrupted traditional retail distribution by empowering local leaders and providing consumers with better value and convenience. CityMall's asset-light, hyperlocal approach has garnered substantial investor support and laid the foundation for rapid future growth across small cities and towns.
| Founded | 2019 |
|---|---|
| Headquarters | Gurgaon, India |
| Valuation | ~$350 million (2024 est.) |
| Annual Revenue (FY24 est.) | ₹110 Cr |
| Net Loss (FY24 est.) | ₹70 Cr |
| Employees | ~450 |
| Round | Year | Amount | Lead Investors |
|---|---|---|---|
| Seed | 2020 | $3 million | Elevation Capital, WaterBridge Ventures |
| Series A | 2021 | $11 million | General Catalyst |
| Series B | 2022 | $75 million | Jungle Ventures, Accel, existing investors |
| Bridge Round | 2023 | $21 million | Existing investors |
CityMall's revenue grew from ₹30 Cr in FY22 to ₹110 Cr in FY24, driven by expansion into new cities and rapid onboarding of community leaders. Losses continue as the company prioritizes market share and logistics network development.
EBITDA margins improved from -120% in FY22 to -65% in FY24 as scale efficiencies and better supply chain partnerships started to show early signs of operational improvements.
Employee headcount rose from 200 in FY22 to 450 in FY24, supporting growth in logistics, tech development, and community leader training across tier-2/3 cities.
CityMall plans to deepen its presence in smaller cities, strengthen supply chain technology, and expand product categories. The company may consider a strategic funding or IPO in the next few years to accelerate nationwide expansion.
CityMall recently raised additional bridge funding, launched new private label products, and expanded into over 50 new cities to grow its community leader base and strengthen local logistics capabilities.
| Metric | Detail |
|---|---|
| Revenue FY24 | ₹110 Cr – Robust growth via new city expansion. |
| Net Loss FY24 | ₹70 Cr – Continued investment in scale and distribution. |
| EBITDA Margin | -65% – Gradual improvement in operational efficiency. |
| Valuation | $350 million – Supported by strong investor interest. |
| Employee Count | 450 – Expanded to support community commerce operations. |
CityMall's innovative community commerce model has positioned it as a promising player in India's retail ecosystem. With rapid growth, strong investor backing, and focus on tier-2/3 cities, CityMall is set to redefine local commerce. Make smarter business decisions with verified insights on companies and directors. Visit Affluense.ai to learn more.
Entrackr, Economic Times, Business Standard, company announcements.
Disclaimer: The information presented in this report is intended for general informational purposes only and does not constitute investment advice. All financial data is based on public sources and estimates where necessary.