D’Chica has raised funds from Velocity.
The brand will use the financing to scale its marketing and hiring efforts and to achieve a revenue of Rs 45 crores in fiscal year 2023-24.Velocity’s support was monumental in boosting D’Chica’s operations and giving it the tools to reach greater heights. The brand chose revenue-based financing to retain autonomy and keep control in its hands. It didn’t want to go the traditional VC route until it had achieved the targeted run rate.
Apparel and fashion brand D’Chica was founded in 2019. Its core products include women’s innerwear along with a fashion line of sportswear, loungewear, and footwear. The D2C brand closed its financial year 2021-22 with a revenue of Rs 6.6 crores and is set to close the current financial year at Rs13 crores.
The brand felt the teen demographic in India was long disregarded by traditional apparel brands and so spotted a white space to create high-quality utility products that also incorporated up-to-date fashion trends. D’Chica sells its products across e-commerce platforms such as Amazon, Myntra, Ajio, Firstcry, Jabong, and Zivame and also exports its innerwear range to US, UK, and Germany.
Bangalore-based fintech Velocity is a revenue-based financier. Since commencing operations in early 2020, the company today has a repeat customer rate of 78 per cent.
