By: Online Fashion E-commerce StalkBuyLove Raises $1 Million. The fashion e-tailer has pulled off a stunning fundraiser of $1 million in a venture debt. The investors are the Trifecta Capital.
StalkBuyLove is a women fashion e-tailer selling in the categories of apparels and accessories. The Delhi-based startup was co-founded by Tushar Ahluwalia and Nishrit Shrivastava and is owned and operated by Ad Victoriam Ventures Pvt Ltd. The company sells both via its website and mobile app.
Online Fashion E-commerce StalkBuyLove Raises $1 Million in a venture debt from Trifecta Capital. The funds acquired would help team expansion and strengthen the supply chain technology of the company as per the startup founders and the investors. The company is going ahead to purchase an Israeli software for stronger supply chain and adding more categories.
The funding round isn’t the first time that the StalkBuyLove team has managed to get funding. Previously in December 2016, it raised an equity funding in Series A round led by Kalaari Capital. The overall funding of the fashion startup including the recent series sums up to $5 million.
One more Venture debt company, InnoVen Capital recently disclosed its doubled investment compared to the last quarter. Their investment now amounts to $37 million. The company invested in 17 different companies till the quarter ending this March.
A venture debt aids a company to raise its working capital without any diluted equity. Trifecta’s current target corpus is Rs 500 crore. Also, they have invested in companies like UrbanLadder, PpaerBoat, and UrbanClap.
Now, as per the CFO, Rishi Baveja, the companies hat put forth their own label for sale make better revenues and profits. StalkBUyLove currently claims a basket size of Rs 1,700 and a earns a gross margin of nearly 60 percent. Furthermore, the company is aiming a doubled revenue rate by December 2017 says, Ahluwalia.
StalkBuyLove targets women withing the age range of 16 to 35 years in 10 biggest cities of India.
According to a report by Google, India’s online fashion business is slated to grow to $35 billion by 2020 and is likely to become the largest category ahead of consumer electronics.