Men’s grooming brand Menhood has raised Rs 2.35 crore from Velocity.in, a revenue-based financier. The funds will be used to scale up inventory and meet the company’s goal of achieving a revenue of over Rs 24 crore. Menhood is a premium grooming company dedicated to helping men maintain personal hygiene through quality products and raising awareness about the importance of using men’s grooming products. The company has seen success through a mixture of paid advertisement and WhatsApp marketing, resulting in a 15% repeat customer rate each month and 75% of customers opting for prepaid orders. Menhood has also expanded from a grooming brand to a male fashion lifestyle brand with the introduction of fragrances and beard trimmers. Velocity.in offers revenue-based financing at an interest rate of 4-8% for Indian e-commerce businesses as a replacement for VC funds and traditional bank debt.
Velocity offers revenue-based financing at an interest rate of 4-8% as a replacement for VC funds and traditional bank debt for Indian e-commerce businesses. In November 2021, the Bengaluru-based firm had raised $20 million in a Series A round led by Peter Thiel’s Valar Ventures and other investors.
Velocity in is a Bengaluru-based firm that offers revenue-based financing at an interest rate of 4-8% to Indian e-commerce businesses. This financing option is an alternative to traditional VC funds and bank debt. In November 2021, Velocity.in raised $20 million in a Series A funding round led by Peter Thiel’s Valar Ventures and other investors. The funding will help Velocity.in expand its reach and offer its financing options to more e-commerce businesses in India.