Established by Ilesh Ghevariya and Bhavdip Ghevariya in 2017, French Crown stands as a prominent fast-fashion brand. Renowned for its affordable prices and stylish clothing line encompassing dresses, tops, bottoms, and accessories, the company has garnered widespread recognition.
The funding from Velocity will allow French Crown to grow its business and expand into new markets. The company plans to use the funds to develop new designs, invest in marketing, and open new stores.
Velocity is a revenue-based financing platform that provides funding to online businesses. The company offers a flexible financing option that allows businesses to access capital without giving up equity.
The funding round is a milestone for French Crown, showcasing its growth potential and investor confidence.
The startup is present in over 90 countries. It claims a 50% customer retention rate. The industry average standard is 28.2%.
Here are some additional details about the funding round:
- The funding was led by Velocity.
- The funding round was oversubscribed.
- The funding will be used to grow the business, develop new designs, and expand into new markets
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