NEW DELHI: GLAM (Greenteck Logistics and Mobility Pvt Ltd), a full-stack digital commerce delivery network company operating at the intersection of digital commerce and last-mile delivery, has announced a new credit facility of INR 11.25 crore (~USD 1.2 million) from a leading public sector bank in India. The funds will be deployed to scale operations, deepen delivery partner engagement, optimise working capital, and strengthen technology infrastructure.
What makes this development particularly noteworthy is not just the quantum of the facility, but the source. Public sector banks in India are known for their rigorous financial due diligence and conservative lending standards. For a start-up to secure a credit line of this nature speaks directly to the strength of its balance sheet, the consistency of its cash flows, and the viability of its business model. GLAM has been profitable at the PAT (Profit After Tax) level since its very first year of operations, a phenomenon that’s rare in the start-up ecosystem in India at comparable scale.
This credit line further validates the profitable growth model GLAM has been driving since inception. Incorporated in October 2022, the digital commerce delivery company operates at an ARR of approximately $10 million. It has a presence across 300+ cities with 25,000+ delivery partners moving 20 million shipments a month. GLAM operates an asset-light business model geared to generate a high RoE of over 60% at scale. The company is building a rider-first platform that focuses on transparent systems, operational stability, and sustainable mobility, while creating dignified earning opportunities for India’s growing delivery workforce, which currently numbers over 10 million.
A Market at an Inflection Point
India’s digital commerce sector is undergoing a structural transformation, with the shift toward organised, technology-enabled fulfilment fuelled by a consumer base that now expects delivery in minutes rather than days. The last-mile delivery market is projected to grow from USD 7.4 billion in 2025 to USD 24 billion by 2033, a CAGR of approximately 15%. Quick commerce, GLAM’s focus vertical, is growing even faster, projected to expand at a CAGR of over 40% over the next few years.
GLAM is purpose-built to serve this evolving demand. Unlike operators that specialise in a single segment, GLAM is a full-stack digital commerce delivery network with a unified approach that reduces clients’ dependency on multiple players and drives meaningful improvements in unit economics at every node of the fulfilment chain.
“GLAM has been built on a profitable growth model wherein profitability runs in parallel with high growth delivering great returns for all stakeholders. This capital-efficient model has propelled the company to reach an ARR of $10 million in just over three years while remaining bootstrapped and generating a high RoE of over 60%. The new credit line is a strong validation from a top institution that looks at core business fundamentals and gives us the required fuel to accelerate further without compromising the financial discipline that has defined us from day one.”
– Vijay Dobriyal, Founder & CEO
Looking Ahead
GLAM expects to sustain this growth trajectory into FY2026-27, backed by the rapid expansion of quick commerce, increasing demand for reliable last-mile delivery partners, and a growing base of enterprise clients seeking end-to-end fulfilment solutions. With profitability already established and institutional credit in place, the company is positioned to scale with both speed and financial discipline, a combination that continues to be uncommon in India’s evolving start-up ecosystem.
With a clear mission of onboarding 100,000+ delivery partners by 2027, GLAM is positioning itself as the next-generation delivery and mobility platform. For the start-up ecosystem that has long grappled with the question of growth versus profitability, GLAM’s trajectory offers a different proof point: building a financially disciplined business and building a fast-growing one do not have to be mutually exclusive.
About GLAM
Founded in Oct 2022, GLAM (Greenteck Logistics and Mobility Pvt Ltd) is India’s leading digital commerce delivery and green mobility company headquartered in Noida, Uttar Pradesh. Built on a partner-first model, the company operates a network of over 25,000 delivery partners who benefit from 24/7 operational support and quick, weekly payouts. GLAM handles more than 20 million shipments per month across 300+ cities in India and has been PAT-profitable since its first year of operations.
