Moksha Group acquires Arzooo assets in distress sell

Moksha Group, a Mumbai-based company providing distribution, supply chain, and financial solutions, acquired strategic assets from retail tech startup Arzooo in a distress sale. Arzooo, which was on the verge of shutting down, had laid off hundreds of employees and faced salary delays. The acquisition aims to equip smaller retailers with digital tools and integrated fintech solutions, enabling them to strengthen their market presence. Moksha Group appointed e-commerce veteran Rehan Shaikh as co-founder and CEO to lead its retail tech business. Arzooo, founded by former Flipkart executives, had raised approximately $85 million to date, including a $70 million Series B round in June 2022. The acquisition is expected to enhance Moksha’s capabilities in providing innovative technology and credit access to small retailers.