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Leading fashion e-tailer Yebhi.com plans to raise around $25 million (around Rs 137 crore) in its next round of funding in the next 3-4 months.
The company would be using the amount to step up its expansion plans, said Manmohan Agarwal, founder of Yebhi.com.
The fund will be raised by wholesaler Big Shoe Bazaar Pvt Ltd, which owns brand Yebhi.com. The company had, last October, raised Rs 100 crore in Series C round from Fidelity Growth partners, Qualcomm Ventures and Catamaran Ventures.
In July, the company had raised Series B round of Rs 40 crore from Catamaran Ventures and Nexus Ventures Partners. In 2010, it had raised Series A round of Rs 10 crore from Nexus Venture Partners.
“We are in talks with our existing partners as well as other investors. We will divulge further details at that time. Our focus is to grow fast and break-even sooner than expected. We expect to achieve this on the back of constant innovation in both back-end and front-end infrastructure, supply chain and increase the product portfolio,” Agarwal said.
He spoke to Business Line on the sidelines of an ecommerce summit by E-tailing India.
The company has been investing heavily on innovation-led marketing schemes to push the brand. Last year, the company had launched schemes such as ‘try and buy’, where customers could try a dress at home while the delivery boy waits. Meanwhile, it hired management graduates as delivery boys called Yebhi Champs, who did not just deliver goods but also made customers understand the various nuances of buying online. Recently, it launched Yebhi Wallet.
With regard to sales, Agarwal said that his company had been growing at more than 200 per cent year-on-year and is expected to turn profitable in another 15 months. It is expected to grow at 100 per cent this year on the back of an increase in internet penetration and growth of smartphone users.
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