Reevoy raises Rs 48 crore debt to expand operations

By

Isabelle Crossley

Published
Nov 1, 2022

Reevoy has secured Rs 48 crore in debt from investment platform Kilde. The fashion marketplace plans to boost its invoice financing arm and continue to expand the scale of its international operations.

The Mumbai-based business plans to use its new funds to significantly expand its operational capability, Apparel Resources reported. Reevoy also plans to expand its financial offerings for fashion and homeware importers.
 
“We have been extremely bullish on building the India story, and our investment in Reevoy is a testament to our continued commitment,” said Kilde’s Radek Jezbera, Apparel Resources reported. “Since its inception, Reevoy has been creating strides in the ecosystem through its offerings, such as low-cost capital to manufacturers to help minimise risks owing to control over the process. This has helped them attract key players across the ecosystem, and we are dedicated to their vision of streamlining the global fashion and home decor ecosystem.”

Ankur Khetan, Ishan Dadhich and Mohit Agarwal launched Reevoy in 2020 with the aim of providing tech enabled supply chains for fashion and home décor businesses. The business currently works with 10 international retailers which purchase goods from 80 factories spread across India and Bangladesh. 
 
Reevoy has shipped around one million items to date and plans to ship a further two million items in the remainder of the year. The business had raised $4 million in seed funds at the beginning of 2022 to boost its operations to support international importers.