Barcelona, the fashion and apparel brand for men, has raised Rs 5 crore equity-free capital from GetVantage, a non-dilutive funding marketplace and growth platform.
The funds raised from GetVantage will be used to open around 50 outlets across the country in the new financial year and to step up its marketing efforts. Barcelona has also signed Sonu Sood as its brand ambassador to create a brand recall in towns beyond the metros.
Jaimin Gupta, managing director, Barcelona said, “Businesses like us are capital intensive and we are constantly looking for equity-free and collateral-free working capital. Fortunately, revenue-based finance in India is gaining popularity and helping SMEs like us grow exponentially. We have seen a massive spurt in our business after raising funds from GetVantage. We got funds in just a few days without any hassle. Such alternate finance helps us to focus on our business instead of chasing funds.”
In addition to ramping up expansion, Barcelona is planning to get listed on the country’s bourses and is slated to launch an Initial Public Offering (IPO) soon.