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§ Private Profile · San Mateo, CA, USA
Tech-first B2B marketplace for U.S. contractors, streamlining cross-border procurement of construction materials from Southeast Asia.
Founded in 2020 by Shaily Garg and Ashish Chandra, GlobalFair is a tech-first B2B cross-border commerce platform delivering an Amazon-like procurement experience for construction materials. The digital marketplace utilizes artificial intelligence and data insights to simplify a fragmented $340 billion industry by connecting Southeast and South Asian suppliers with American contractors across 36 states. Serving major domestic homebuilders like DR Horton, the company facilitates high-value transactions averaging $120,000 while maintaining an exceptional customer retention rate between 93% and 98%. The rapidly growing enterprise recently achieved EBITDA profitability alongside a remarkable 110% month-over-month growth rate in its specialized construction materials sector. To support this ongoing expansion, GlobalFair has secured significant financial backing from prominent venture capital firms including Lightspeed India, India Quotient, and Saama Capital, highlighted by a $20 million Series A funding round in 2022.
GlobalFair has raised $32.0M across 2 funding rounds.
GlobalFair has raised $32.0M in total across 2 funding rounds.
GlobalFair has raised $32.0M across 2 funding rounds. Most recently, it raised $20.0M Debt / Series A in October 2022.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| Oct 20, 2022 | $20M Debt Financing | Bejul Somaia | AUM Ventures, India Quotient, Saama Capital, Stride Ventures | Announced |
| Oct 1, 2022 | $12M Series A | — | Lightspeed Venture Partners, Matrix Partners India | Announced |
GlobalFair has raised $32.0M in total across 2 funding rounds.
GlobalFair's investors include Bejul Somaia, AUM Ventures, India Quotient, Saama Capital, Stride Ventures, Lightspeed Venture Partners, Matrix Partners India.
GlobalFair is a technology-enabled cross-border B2B managed marketplace specializing in construction materials, aggregating suppliers from India and Southeast Asia to serve global demand.[1][2][3] It builds a platform that digitizes procurement, offering products like quartz and building materials through mobile and web apps for browsing, customization, real-time GPS tracking, order management, and rigorous quality control.[3][6] The company serves construction firms and buyers worldwide, solving supply chain disruptions in the $1.4 trillion industry by enabling seamless, hassle-free trade with sustainable practices, competitive pricing, and end-to-end transparency—achieving 110% month-over-month growth, 98% customer retention, and customers ordering eight times their initial volume within the first year.[2][5] Backed by Lightspeed Venture Partners since its 2022 Series A (with $20M total funding), GlobalFair operates privately with 110+ employees across India, USA, and Vietnam, headquartered in San Mateo, California, and reports $23.1M in revenue.[1][3][4]
GlobalFair was founded in 2020 amid COVID-19 supply chain chaos, drawing from founder Shaily's family quartz manufacturing roots and her prior experience at P&G in efficient large-scale operations.[1][5] Shaily identified a gap in the construction materials sector—which represents 13% of global GDP but only 1.7% tech investment—where suppliers wanted to sell and buyers needed reliable access, but technology was absent.[5] Starting as a broader marketplace with seven categories, the company pivoted to a managed model focused exclusively on construction materials, controlling supply chains (except factory machinery) for quality assurance on high-value orders averaging $120,000 and up to $1.2M.[1][5] Early traction came from this expertise-driven approach, evolving into a "rockstar team" of specialists in sales, distribution, manufacturing, tech, logistics, and finance, now spanning three countries.[2][3]
GlobalFair rides the wave of post-COVID globalization and B2B digitization in construction—a fragmented, low-tech $1.4T market ripe for disruption amid persistent supply chain issues and rising demand for cross-border efficiency.[2][5] Timing is ideal as Southeast Asia emerges as a manufacturing hub, with GlobalFair bridging suppliers there and India to U.S./global buyers, countering disruptions via tech like GPS and QC apps that enhance transparency in an industry slow to adopt (only 1.7% tech spend).[3][5][6] It influences the ecosystem by pioneering managed marketplaces for hard-to-digitize goods, promoting sustainable practices, and setting benchmarks for quality in B2B trade—potentially as "Alibaba for B2B Southeast Asia," accelerating tech adoption in construction procurement.[2][5]
GlobalFair is poised to scale its managed model globally, expanding supplier networks in SEA and product depth in construction materials while leveraging Lightspeed backing for further growth beyond its $20M raise.[1][4][5] Trends like AI-driven supply chains, sustainability mandates, and e-commerce maturation in emerging markets will propel it, potentially capturing more of the $1.4T pie through seamless trade tech. Its influence may evolve from niche disruptor to category leader, redefining cross-border B2B as effortless as local sourcing—building on its manufacturing-rooted vision to transform a trillion-dollar industry.[2][5]