Bengaluru, 24th February 2022: Direct-to-consumer (D2C) online fashion clothing brand Label Shaurya Sanadhya has raised an undisclosed amount from Velocity.in, India’s largest revenue-based financier.
Founded by Shaurya Sanadhya, a multi-faceted Pune-based fashionista-turned-entrepreneur, the brand offers ethnic wear, western wear, festive wear, accessories, etc for women at attractive prices.
Shaurya is an Instagram influencer, blogger, and Youtuber who creates content for different categories such as fashion, beauty, lifestyle, travel and food. She also recently launched her own line of herbal skincare products under the brand name “Aryam”.
“After completing my MSc in Economics and working with an MNC for one year, I wasn’t very happy with what I was doing. During college I had walked the ramp for reputed designers like Rohit Bal, Swapnil Shinde and Nivedita Saboo and therefore always dreamed of having my own fashion brand. Today, our brand stands for quality products and exciting designs. The funds raised from Velocity.in will be used to expand our product line as well as generate more brand awareness.” says Shaurya, Founder, Label Shaurya Sanadhya.
Speaking about the financing, Amit Tulshyan, CEO of Shaurya Sandhya said “We chose to raise financing from Velocity because we see a lot of value in their holistic funding plus analytics offering. We’ve been using Velocity Insights to track our key D2C KPIs for a while and have found it to very convenient and effective. Now it’s become a part of our daily routine where every morning we look forward to getting an update on our business performance via WhatsApp.”
According to reports, the apparel industry in India is expected to grow at a CAGR of 8.1% to reach Rs 7,88,532 crore (USD 118 billion) by 2028. Further, the industry is experiencing strong tailwinds, per a recent Unicommerce report, order volume and gross merchant value (GMV) grew by 51% in FY21 relative to the previous financial year. Label Shaurya Sanadhya plans to tap this sectoral tailwind and grow exponentially by leveraging its unique, designer apparel and high-quality social media content.
Speaking about the round of financing, Abhiroop Medhekar, Co-founder & CEO of Velocity, said, “We are on a mission to empower new age businesses with better financial products. We are excited to announce our partnership with Label Shaurya Sanadhya. We have been impressed with their growth trajectory, proprietary distribution channels and Shaurya’s ability to engage with people via social media. We look forward to developing a long-standing relationship with them as they scale greater heights.”
Velocity.in, a Bengaluru-based fintech, is India’s largest revenue-based financier. Over 1,500 e-commerce businesses have signed up with them since they started in early 2020. With over Rs 1,200 crore of fundable revenues connected to Velocity’s platform, the fintech has already processed 350+ investments across 300 companies.