Online footwear brand Flatheads has raised an undisclosed amount in growth funding from ecommerce investment marketplace GetVantage.
Launched just before the pandemic, the brand claims to have grown 5X in the past year. It will use this capital infusion to fuel expansion and grow revenues.
Utkarsh Biradar, Co-founder and CEO, Flatheads, said,
“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 five-fold in the next 12-15 months.”
“As a founder’s platform, GetVantage helps high-potential founders and brands supercharge growth with performance-based financing as a catalyst,” added Bhavik Vasa, Founder and CEO, GetVantage, “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.”
As a priority for the next wave of growth, Flatheads said it will expand its presence on global and local marketplaces including Amazon, Myntra, and Tata Cliq.
The startup, founded by Ganesh Balakrishnan and Utkarsh Biradar, aims to create versatile sneakers suited for both work and fun, designed specifically for the Indian climate and use cases.