Revenue-based finance platform Velocity led Rs 1.6 Cr raised by fashion retailer D’chica
Fashion retailer D’chica sells direct to consumer (D2C) and has obtained Rs 1.62 crore from revenue-based finance company Velocity.
The business stated in a news release that it would put money toward employing more employees and marketing. D’Chica, a brand that was founded in 2019 by Vani Chugh Kabra and Richa Kapila, specializes in stylish and comfortable innerwear, sportswear, loungewear, and footwear.
It makes use of external e-commerce sites including Amazon, Myntra, Ajio, Firstcry, Jabong, and Zivame. Additionally, it established a physical presence in Uttar Pradesh and the National Capital Region (NCR). The company claims to have had Rs 6.6 crore in sales at the end of FY22 and is shooting for Rs 13 crore in topline this fiscal year (FY23).
Numerous businesses, including well-known brands like Jockey and Clovia, are in competition with the corporation. However, it primarily targets teenagers, and with the wave of D2C, the business might develop along the lines of Almo (baby-focused), SuperBottoms, and (men-focused innerwear brand).
Bengaluru-based the financial platform Velocity claims to have handled over 1,000 D2C investments and provides funding against gross income.
