Online Fashion eCommerce Startup StalkBuyLove Raised US$1Mn From Trifecta Capital
Online fashion eCommerce startup, StalkBuyLove owned by Ad Victoriam Ventures Pvt Ltd, has raised $1 million in venture debt from Trifecta Capital.
The raised capital will be used to strengthen its supply chain technology and expand its team.
Online fashion eCommerce startup StalkBuyLove was founded in 2012 by Tushar Ahluwalia and Nishrit Shrivastva in Delhi.
They had previously raised a series A round of equity funding of around INR 41 crore ($6 million) led by Kalaari Capital, in December 2016.
StalkBuyLove sells fashion apparel and accessories for women online, through its website and mobile application. The company claims to have average basket size of INR 1,700, 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.
Venture debt allows start-ups to raise working capital without diluting ownership unlike equity funding. With a target corpus of INR 500 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.
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 INR 100-150 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.