Online fashion brand StalkBuyLove raises $1 million from Trifecta Capital1 min read . Updated: 24 Apr 2017, 03:32 PM IST
Online fashion brand StalkBuyLove will use the $1 million venture debt from Trifecta Capital to strengthen its supply chain technology and expand team
New Delhi: Online fashion brand StalkBuyLove has raised $1 million in venture debt from Trifecta Capital to strengthen its supply chain technology and expand its team, the two parties said on Monday.
Owned and operated by Ad Victoriam Ventures Pvt Ltd, StalkBuyLove had previously raised a series A round of equity funding led by Kalaari Capital, in December 2016.
Including the current debt round, the company’s total funding adds up to over $5 million.
Venture debt allows start-ups to raise working capital without diluting ownership unlike equity funding. With a target corpus of Rs500 crore, Trifecta has invested in companies such as Urban Ladder, Paper Boat and UrbanClap.
Another venture debt firm, InnoVen Capital recently said on 11 April that it doubled its investment to about $37 million across 17 companies in the quarter ended March, as compared to the previous quarter. (bit.ly/2pqmH5B)
Founded in 2012 by Tushar Ahluwalia and Nishrit Shrivastva, StalkBuyLove sells fashion apparel and accessories for women online, through its website and mobile application. The company claims to have average basket size of Rs1,700, earning gross margins of about 60%.
Firms selling private labels enjoy better margins. The brand sold 65,000 garments in April, said the chief financial officer of the company, Rishi Baveja.
The company is purchasing a software from Israel to strengthen its supply chain in addition to introducing new categories; aiming to double its revenue run rate to Rs100-150 crore by December 2017, added Ahluwalia.
Its customers are women between the age of 16-35 years, located in top ten cities of the country.