B2B sourcing and procurement firm, GlobalFair has raised $2 million in seed funding round led by Saama Capital and India Quotient. The round also saw participation from angel investors such as Shashank Kumar and Harshil Mathur, RazorPay; Kunal Shah, CRED; and Harsh Shah & Farooq Adam, Fynd.

Shaily Garg, Founder & CEO, GlobalFair said that the fresh capital will be utilized to expand the company’s network of manufacturers across India and Vietnam, and facilitate growth across all verticals to build a simpler, faster, and better cross border supply chain.

Founded by IIT Bombay alumnus, Shaily and IIT Delhi alumnus, Ashish Chandra, GlobalFair is a cross border trading platform that creates a borderless trade economy and simplifies inter-country sourcing.

Speaking about the investment Shaily said, “Customer responses and funding that we have received so far is an acknowledgment of our potential to transform the global B2B cross-border trade. With a supplier base across Rajasthan, Himachal Pradesh, Gujarat, and Andra Pradesh, and buyers across the US, South Korea, and Vietnam, we have seen the affinity of our customers to turn to a technology-first solution in a very people driven industry”.

Ash Lilani, Managing Partner of Saama Capital, added, “The Global Fair approach of disrupting a fragmented and traditionally run cross-border trade segment by leveraging technology and improving transparency and efficiency creates a huge market opportunity, especially for the global buyer,” said

According to Anand Lunia, Partner, India Quotient, said, “The convenience that consumers are used to has been an envy for business buyers. Very little has been done to make the cross-border buying experience similar to ordering on Amazon. The need is for a credible intermediary to put the supply chain and the finance rails together and make the massive supply base in India and SE Asia accessible on a click to Global buyer."