Little Black Book (LBB), a local discovery platform, based out of Delhi, has bagged ₹7 crore in debt funding from Alteria Capital India Fund- I. The company has also allocated 700 series A debentures for ₹1,00,000 per share to the investor.
The platform to find and shop from local brands and businesses claims to have over three million users every month, connecting them to over 60,000 local brands, businesses across eight markets in India.
Till date, the company has raised a total of $7.5 million.
Little Black Book was started by Suchita Salwan and Dhruv Mathur in 2013. The platform also claims to have doubled its audience, grown its customer retention, and registered a growth of over 75 per cent in revenue.
While, the platform said its newly-launched content to commerce on the platform is seeing a 30 percent month-on-month growth, with over 500+ brands and 15,000+ products selling through LBB.
By the end of 2019, the company is looking to achieve around 120 people from the current team strength of 85 people, it said.