Nearwala targets $4 million funding round to scale hyperlocal retail platform

Nearwala, a Bengaluru-based hyperlocal retail platform for small Indian merchants, is preparing to raise a $4 million funding round, having previously raised ₹3.5 crore from angel investors after starting with a ₹25 lakh bootstrap investment from its founders, Rajiv Surendran and Rahul K. C.

The platform gives small retailers tools such as cloud-based sales analytics, stock visibility features, and location-based promotions to help them compete with quick-commerce apps like Zepto and Blinkit, without requiring them to abandon their existing billing systems. It also runs a consumer-facing rewards layer where shoppers earn digital gold and “NCoins” through purchases and app engagement.

The company says it has onboarded more than 7,000 merchants across 15 cities and processed over ₹15 crore in business volume in FY 2025-26, working with brands including Tata Motors and Craze Foods to test offline consumer campaigns.

Nearwala’s roadmap includes expanding to 50 cities, onboarding 100,000 merchants and reaching roughly ₹200 crore in business volume, with the founders targeting a possible IPO around 2029-30.