Fashion trade platform Reevoy Limited, which counts Better Capital, Venture Catalysts and 9Unicorns as among its investors, on Tuesday said it has secured Rs 48 crore ($6 million) from Singapore-based private debt investment firm Kilde in a fresh capital raise.
The Mumbai-based startup plans to use the fresh funds to boost its invoice financing arm as well as to expand operations and offerings across segments.
Founded in 2020 by Ankur Khetan, Ishan Dadhich and Mohit Agarwal, Reevoy claims to help importers source high-quality products from Indian exporters and provide working capital to finance transactions.
The startup also enables fashion and home decor brands to purchase from India. Besides, its integrated tech platform helps to find the right exporters; streamline the production process - from design to final quality checks, and purchase the goods on credit.
Kilde as a global platform raises capital for alternative lenders. It offers a liquidity pool sourced from institutional and individual accredited investors to deal providers, enabling financing in the form of private debt, venture debt and recurring revenue streams.
“Since its inception, Reevoy has been creating strides in the ecosystem through its offerings, such as low-cost capital to manufacturers to help minimize risks owing to control over the process. This has helped them attract key players across the ecosystem, and we are dedicated to their vision of streamlining the global fashion and home decor ecosystem,” said Radek Jezbera, Co-founder and CEO at Kilde.
Early this year, Reevoy had secured $4 million as a part of its seed round led by 9Unicorns and Venture Catalysts.
The round also saw participation from Better Capital, Earlsfield Capital Partners, Cred Founder Kunal Shah, Anupam Mittal, Founder of People Group and CEO of Mswipe Technologies Ketan Patel.