Stride Ventures leads Rs 7Cr debt financing round to Neeman s

The venture loan fund with close relationships between banks and businesses is committed to being a strategic partner in the brand’s journey to disrupt the Indian footwear segment which consists primarily of leather footwear.

Stride Ventures, one of India’s leading venture credit companies, today announced INR 7 crore debt financing in Neeman’s, India’s leading sustainable footwear brand. With this investment, the venture loan fund with close relationships between banks and businesses commits to be a strategic partner in the brand’s journey to disrupt the Indian footwear segment which consists primarily of footwear in leather.

This is the 40th investment in Stride’s portfolio in both funds. The amount will come from the Stride Ventures India Fund – II and will be used by the young shoe brand to expand its portfolio, develop an intensive product and make a commitment to the planet. It will also allow them to enter new markets and segments.

Commenting on this development, Mr. Ishpreet Singh, Founder and Managing Partner of Stride Ventures, said: “Customers are increasingly turning to environmentally friendly businesses as the world moves towards a sustainable lifestyle. As the Indian footwear industry is poised to develop at a steady pace, the D2C segment for the footwear industry has emerged as the fastest growing channel. With its strong marketing strategy and strong social media presence, the brand has expanded into public relations, marketing, branding, influencer partnerships and other related functions. Taran and Amar have ensured that Neeman’s is well positioned to tap into a huge addressable target market, and we are delighted to partner with them on this journey. “

As a sustainable brand that uses all-natural, renewable, recyclable and chemical-free materials, Neeman’s has maintained a strong focus on product development and intensive R&D. The most important value proposition of all of its products is comfort, durability and respect for the environment. Additionally, the shoes are lightweight, flexible, machine washable, and can be worn with and without socks, making them suitable for the varied Indian climate.

Commenting on the funding, Amar Preet Singh, Founder and COO of Neeman’s, said: “We are delighted to have Stride Ventures as partners in changing the way India wears shoes. Since our inception, our motto has been to make durable and comfortable shoes. So, we launched shoes using unexplored natural and renewable fabrics such as merino wool, recycled PET bottles and even recycled tires, which new age-conscious consumers have accepted well. This investment will allow us to strengthen our journey towards reducing the carbon footprint. and remain committed to producing comfortable and well-designed shoes. It will also make it easier for us to expand to other categories such as fashion and clothing. ”

We are very excited and excited to partner with Ishpreet and the Stride team to create and develop Neeman’s. From its debut 2.5 years ago to selling over 2 pairs of Lakhs and being rated as “the most comfortable shoe” by 95% of our customers, our journey has only just begun. Partnering with a fund that aligns with our founder-focused mindset is the right step for us, said Neeman’s, Founder and CEO of Taran Chhabra.

Since its inception, Stride Ventures has focused on investing in market leaders across all industries. Having been one of the most active risk debt companies this year, total liabilities exceeded INR 1,000 crore in portfolio companies across its two debt funds.

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