BeYoung secures Rs 40 crore funding from Klub for expansion plans

• ByStartupStory     |    April 29, 2023

BeYoung has announced that it has secured funds for expanding its offline presence in India, with plans to open over 100 stores in tier 2 and 3 cities next year. The company will also allocate a portion of the funds to marketing initiatives, technology upgrades, and logistics improvements.

Fashion startup BeYoung has secured Rs 40 crore in funding from revenue-based financing platform Klub, according to a media release. The funds will be utilized to expand the company’s offline footprint by opening over 100 stores in tier 2 and 3 cities in 2023. Additionally, the startup will allocate the funding towards marketing, technology upgrades, and logistics improvements.

Beyoung aims to challenge the stereotype of high-quality clothing with high prices, said Shivam Soni, founder and CEO of the e-commerce fashion startup. The company received Rs 40 crore in funding from Klub, which will be used to expand its offline presence and improve marketing, technology, and logistics. Since its initial funding from Klub, the company’s annualized revenue rate (ARR) has grown threefold to Rs 150 crore, and it aims to reach Rs 500 crore in ARR by 2026.

Established three years ago, the startup presently provides a selection of trendy clothing and accessories, primarily aimed at young adults and available at reasonable prices.

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