Yepme close to bagging around Rs 450 cr in funding

Online fashion retailer Yepme.com, run by VAS Data Services, is said to be in the final stages of getting a 75 million dollars (about Rs 450 crores) funding boost from new investor Khazanah Nasional, Malaysia’s sovereign wealth fund along with existing investors.

Khazanah, headed by Chinta Bhagat in India, recently participated in online lingerie store Zivame’s Rs 250 crores funding round. Yepme has already received around Rs 40 crores at a pre-money valuation of about Rs 640 crores from existing investors Helion Venture Partners, JS Capital, TCS Global, Capricorn Investment Group and Morpheus Media Fund, according to the documents filed with the Registrar of Companies.

Helion and Capricorn together hold close to a 60 percent stake in Yepme, while Morpheus holds around 8 percent and the founders hold close to 20 percent of the company. Started by Vivek Gaur and Sandeep Sharma in 2011, the platform offers private labels under the brand name Yepme in ethnic Indian wear and western wear for men and women. The company brought actor Shah Rukh Khan on board earlier this year to promote the brand.