Transteel raised growth capital from India’s leading revenue-based financing player Klub and other institutions.
New Delhi, 8th October: Transteel, one of India’s leading D2C brands for office furniture targeted at SMEs and middle-market companies, has received growth capital of INR 4 Crore from marquee investors including India’s leading revenue-based financing player, Klub.
Transteel offers purposeful, premium office furniture built for start-up’s, small & medium size business owners. Transteel Launched its D2C vertical in May 2020 as its pivot in response to Covid and makes furnishing office spaces easy and affordable for start-ups and small and medium businesses owners. With pan India delivery, the company has shown remarkable growth during the pandemic. Their approach of engaging directly with the consumers and the SME / MSME vertical has helped them achieve remarkable numbers of 40,000 online orders since May 2020.
Speaking about the funding round, Mr. Shiraz Ibrahim, Managing Director, Transteel said, “It gives us great confidence that our investors are in line with our vision of promoting the Consumer / MSME / SME verticals of Transteel. This funding will definitely help us in developing our business and will boost our mission of providing affordable furniture directly to the end consumer that is delivered and installed in as little as a week, with a “buy now, work now” approach to suit the fast-paced nature of start-up and small business culture”
Transparent pricing and automatically applied volume discounts are few among the other benefits that Transteel offers to its customers to easily purchase furniture online and let Transteel take care of delivery, assembly, and after-sales support. The company further aims to utilize the amount in improving customer service, logistics, manufacturing, and customer acquisition.
“We are seeing an evolution of omnichannel brands as digital is getting embraced further by the ecosystem. What sets Transteel apart from other players, is their specialisation in manufacturing office and home furniture offering a delightful mix of design, value for money, and most importantly ergonomics. Their digital-first approach to make furniture solutions accessible to a large set of customers disrupts the traditional retail model.” says Anurakt Jain, Co-founder & CEO, Klub.
“Companies have two bad options when purchasing office furniture,” said Transteel’s Co-Founder and Managing Director Shiraz Ibrahim. “They can purchase office furniture through traditional furniture dealers, which is expensive, slow, and confusing, or they can purchase inexpensive ‘fast furniture from online marketplaces which though convenient in the short term isn’t built to last in an office environment and offers very little in terms of after-sales customer support and understanding individual customer needs”.
Transteel is in an advanced stage of closing on a Rs 45 crore Series A round in the funding to further scale its business and & will use the financing to accelerate product development and national reach.