The funds raised from GetVantage will be used to open around 50 outlets across the country in the new financial year and to step up its marketing efforts
Mumbai: Barcelona, the fashion and apparel brand for men, has raised Rs 5 crore equity-free capital from GetVantage, a non-dilutive funding marketplace and growth platform.
The funds raised from GetVantage will be used to open around 50 outlets across the country in the new financial year and to step up its marketing efforts. Barcelona has also signed Sonu Sood as its brand ambassador to create a brand recall in towns beyond the metros.
Jaimin Gupta, managing director, Barcelona said, “Businesses like us are capital intensive and we are constantly looking for equity-free and collateral-free working capital. Fortunately, revenue-based finance in India is gaining popularity and helping SMEs like us grow exponentially. We have seen a massive spurt in our business after raising funds from GetVantage. We got funds in just a few days without any hassle. Such alternate finance helps us to focus on our business instead of chasing funds.”
In addition to ramping up expansion, Barcelona is planning to get listed on the country’s bourses and is slated to launch an Initial Public Offering (IPO) soon.
Karun Arya, chief growth officer, GetVantage shares, “At GetVantage, we are excited to help businesses like Barcelona capitalize on this whopping $20 billion-dollar apparel opportunity. We’re thrilled to support founders like Jaimin who can spot trends not just in fashion but in funding too on their way to a successful IPO!”
Based in Ahmedabad, Barcelona is a men’s apparel brand that offers shirts, t-shirts, jeans, trousers, shorts, and other fashion accessories. Founded in 2015 by Jaimin Gupta, it has over 130 exclusive brand outlets (EBOs) in over 70 cities in the country. It also operates a B2B app to create a single brand-to-retailer channel, where the stock is sold in bulk to apparel retailers. It has over 7,000 garment retailers registered on the app and is aiming to onboard 1 lakh retailers in the financial year 2024.
GetVantage is a leading equity-free funding marketplace and growth platform for SMEs. Launched in 2020 by fintech entrepreneur Bhavik Vasa and Tech and Ops veteran Amit Srivastava. Headquartered in Mumbai, GetVantage makes data-driven investments from Rs 20 lakh to Rs 20 crore. The company, which has registered over 9,000 signups on its platform, has a broad investment portfolio of over 500 new-age businesses in India.