Citykart raises ₹538 cr to expand in Tier II & III cities

Citykart has raised ₹538 crore in Series B funding, led by TPG NewQuest and A91 Partners, to expand across Tier II and III markets. With 137 stores and a ₹1,300 crore revenue target, the value fashion retailer is scaling operations and backend infrastructure while maintaining profitability. Early investor Investcorp exited with 4x returns, signaling strong sector potential.