India’s first bamboo sneaker brand will use the capital to fuel 5x growth in the next 12-15 months
Online footwear brand Flatheads, designing all-day sneakers with natural fibres, raised an undisclosed amount in growth funding from eCommerce investment marketplace GetVantage this week to supercharge growth.
Flatheads began its journey just before the global pandemic and managed to grow 5x in the past year despite the headwinds. The strategic capital infusion powered by GetVantage’s data-driven model that tracks live performance will be used to fuel expansion and grow revenues.
Flatheads Co-Founder & CEO Utkarsh Biradar said the company is excited to supercharge the Flatheads brand with non-dilutive capital from GetVantage.
“Creating awareness among urban audiences and establishing Flatheads as the all-day sneaker of choice is our priority and GetVantage is the perfect long-term growth partner. With this fresh capital infusion, Flatheads is strongly positioned to grow our business 5-fold in the next 12-15 months,” said Utkarsh Biradar.
GetVantage Founder & CEO Bhavik Vasa said as a founder’s platform, GetVantage helps high-potential founders and brands supercharge growth with performance-based financing as a catalyst.
“Flatheads is breaking new ground in the D2C footwear space and we are thrilled to partner with talented entrepreneurs like Utkarsh and Ganesh to help them unlock their true potential,” said Bhavik Vasa.
As a priority for the next wave of growth, Flatheads will expand its presence on global and local marketplaces including Amazon, Myntra, and Tata Cliq.
As the leading revenue-based financing company in India, GetVantage has been very active in this past year having backed over 60+ digital-first brands across sectors. It is committed to driving growth for local, home-grown brands like Flatheads that are the future of eCommerce in India. The company will fund 250+ brands in the next 18 months.
Bangalore-based Flatheads is a Direct-To-Consumer online brand that designs comfortable, all day casual sneakers for long-lasting comfort. The brand was launched in November 2019 with a vision to create versatile sneakers suited for both work and fun, and designed specifically for the Indian climate and use cases.
Flatheads was founded by Ganesh Balakrishnan and Utkarsh Biradar, who previously founded and successfully exited Momoe, a fintech startup.
GetVantage is India & Southeast Asia’s leading revenue-based financing fintech platform for eCommerce brands. Founded by seasoned fintech entrepreneur Bhavik Vasa and Tech & Ops veteran Amit Srivastava and headquartered in Mumbai, GetVantage makes data-driven investments that range from Rs 20 lacs (USD25k) to Rs 2 crores (USD 250k) to help digital brands unlock their growth potential.
A founders-first company, GetVantage has built a strong ecosystem of strategic partners to provide business owners with powerful growth solutions (capital, intelligence, optimisation, and support) to hypercharge growth. The company recently launched a support initiative to pay it forward to the growing founder community.