Globally inspired, home & lifestyle brand, Chumbak has raised INR 3 crores from revenue-based financing platform, Klub.
The company would utilise the additional capital to place product purchases and promote awareness of its web platforms, according to Business World’s BW Disrupt report on the development.
Founded in 2010 by Shubhra Chadda and Vivek Prabhakar, Chumbak started its journey as an India-inspired souvenir & accessories brand. Over the last decade, the brand has transformed into a leading multi-category retailer with a dominating online presence along with 70+ exclusive brand stores.
Vasant Nangia, CEO, Chumbak said, “The infusion of funds from Klub energises us to be able to introduce new collections of our much-loved products. We’re optimistic about the festive season and are geared up to ensure a fantastic store experience, both online & in-store, to our customers.”
Today, the brand features an impressive portfolio of home & lifestyle categories such as décor & living, bed & furnishing, kitchen & dining, watches & accessories, among others.
Anurakt Jain, Co-Founder and CEO at Klub stated, “We are thrilled to have Chumbak on board. The brand has a legacy of offering fun and joyful elements in everyday articles which appeal immensely to a whole generation of young shoppers. We are now seeing an uptick in how Revenue Based Financing is being adapted not only by young businesses but also by late-stage businesses which is a strong testament for us. We see this as the beginning of a long-term partnership.”
Chumbak takes everyday objects and turns them into colourful and fun-filled products.
Based in Bangalore, they design all their products in-house at the Chumbak Design Studio. They retail over 100 categories across 40+ stores pan India.