Online fashion retailer, Yepme.com that is backed by Gurgaon-headquartered Vas Data Services, is in final stages to raise $75 million from a new investor Khazanah Nasional, Malaysia’s sovereign wealth fund along with existing investors. The company had already raised $13 million in series A round from TCS Capital and JS Capital, with participation from existing investors Helion Venture Partners and Capricorn Investment Group, earlier this year.
Helion and Capricorn together hold around 60% stake in YepMe, while Morpheus holds around 8% and the founders hold close to 20% of the company. Started in 2011, the company sells its products on marketplaces such as Flipkart, Amazon, Snapdeal, Jabong and Myntra, apart from its own portal. It services over 1,000 cities monthly and delivers close to 500,000 units to its customers every month.
Founded by IIT, IIM alumni, Vivek Gaur (ex HUL), Sandeep Sharma (ex Accenture) and Anand Jadhav (ex Pantaloons), the firm also started its international business Yepmeworld.com in April 2014.
Khazanah, the strategic investment fund of the Government of Malaysia, had recently participated in Indian online lingerie retailer, Zivame’s $38 million funding round.