Udaipur-based fashion e-commerce brand Beyoung has raised Rs 40 crore from revenue-based finance startup Klub. Beyoung will use the newly raised funding for geographic expansion, the startup said in a statement. In addition, we will also use the funds for technology upgrades, marketing activities, and logistics improvements.
Shivam Soni, Founder and CEO of Beyoung, said: It gives us a great opportunity to reach out to a wider audience and bring trendy, affordable fashion products to their doorstep.”
Founded in 2018 by Shivam, Shivani Soni, Sakshi Soni and Shankar Mali, Beyoung manufactures and sells apparel and accessories for people aged 16 to 45.
According to a release shared by Beyoung, the e-commerce startup’s monthly recurring revenue has tripled, recording annual revenue of Rs 150 crore. By the end of 2026, this startup is expected to reach his Rs 500 crore in ARR.
Sudharsan Venkatakrishnan, Vice President and Head of Capital Platforms at Klub, said:
Before the holiday season begins, Beyoung will divert capital to boost marketing efforts.
Beyoung competes with the likes of The Souled Store and Bewakoof.com. According to an IBEF report, the country’s e-commerce market was valued at $38.5 million in 2017 and is expected to reach $200 million by 2027.
(Story updated to fix typo in heading)
