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Decoding funding, valuation and cap table of quick commerce’s newest entrant FirstClub

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Decoding funding, valuation and cap table of quick commerce’s newest entrant FirstClub

Quick commerce startup FirstClub recently raised $55 million in a fresh funding round led by Peak XV Partners and Sofina. With this, the company has secured $86 million in funding within just 18 months. The funding comes at a time when the quick commerce sector remains one of the hottest segments for investors, with players such as Zepto, Blinkit, Swiggy Instamart, and BigBasket racing to expand market share.

Entrackr examined FirstClub’s regulatory filings to break down the company’s latest funding round, updated captable, and the valuation uplift.

According to Firstclub’s filing with the Registrar of Companies (RoC), its board has allotted 47,746 Series B compulsory convertible preference shares (CCPS) and 10 equity shares at an issuance price of Rs 1,07,268 each to raise Rs 512 crore or around $55 million.

New investor Peak XV Partners led the round with an investment of Rs 207 crore ($22 million), followed by Sofina, which invested Rs 184 crore ($19.8 million). Paramark Ventures contributed Rs 46 crore ($5 million), while existing investors Accel and RTP Global also participated, investing Rs 36.8 crore each.

Entrackr estimates that the company’s post-money valuation rose more than 2.2X to Rs 2,356 crore ($253 million) compared with Rs 1,051 crore in its previous $23 million Series A round.

According to the company, the fresh capital will go toward expanding into new cities, strengthening its quality-focused grocery ecosystem, adding categories such as beauty and personal care, home essentials, and pet care, and upgrading its technology and supply chain capabilities.

Firstclub Shareholding

Following the latest Series B allotment, Accel remained the largest external shareholder with a 15.27% stake, followed by RTP Global at 10.02%. New investors Peak XV Partners and Sofina acquired 8.8% and 7.82% stakes respectively, while Paramark Ventures increased its holding to 3.26%. Founder Ayyappan Rajagopal retained a 39.03% stake. The company also has an ESOP pool of 6.51%, valued at Rs 153 crore.

Launched in June 2025 by former Flipkart executive Ayyappan R, FirstClub follows a quality-first model. Unlike quick commerce players such as Blinkit, Zepto, and Swiggy Instamart, which compete on delivery speed, the company focuses on offering only high-quality products. Its product basket spans food, fresh produce, dairy, bakery, FMCG, and nutrition.

While the company is yet to file its financial results for FY26, it claims to have crossed 1 million orders within its first year of operations.



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