In the fast-paced world of fashion, securing the right financing to fuel growth can often be a daunting and time-consuming process. For Nudea, a trailblazing sustainable luxury brand, Lenkie's products - CardPay as well as the Credit Facility - provided easy access to funds and allowed them to focus on innovation rather than becoming entangled in the complexities of equity fundraising. 

Background

Nudea, founded in September 2019 by entrepreneur Priya Downes, was born out of a desire to provide modern women with luxury products that not only fit perfectly but were also environmentally responsible. The company's focus on recycled fabrics and a commitment to sustainability quickly earned them a reputation as a B-corp certified brand, proud to offer purposeful design to all women.

The Covid-19 pandemic presented both opportunities and challenges for Nudea. As more women turned to online shopping for comfort and convenience, the brand experienced a surge in demand, propelling them forward during the first two years of operation. However, post-pandemic disruptions in the supply chain and falling consumer spending continue to threaten the ongoing success of the business. 

The Lenkie Solution: Unleashing Innovation with Flexible Financing

As Nudea expanded beyond its direct to consumer roots and ventured into partnerships with renowned retailers, the need for substantial working capital and smart financial solutions became apparent. Lenkie's Credit Facility provided a quick and straightforward source of funds that allowed them to shift their focus from raising equity to driving growth and innovation. Lenkie's CardPay allowed Nudea to pay all of their invoices using the credit cards they already qualified for, even if the suppliers didn't usually accept card payments. Priya was able to access CardPay to pay her suppliers through her existing credit cards immediately upon signing up for Lenkie, and was offered a Lenkie Credit Facility within 48 hours of applying.

Priya was able to focus Nudea on what they do best—designing sustainable, high-quality products that resonated with their customers. She says of the facility, “Raising equity to manage cash flow doesn’t make sense, and Lenkie’s credit facility give us time to grow. Lenkie's CardPay allowed us to tap into the credit on our existing cards, so we could better control our cash flow."

Since applying for funding in January 2023, Nudea has experienced a 20% increase in year over year revenue. Lenkie's dashboard also offers valuable insights, enabling them to plan repayments and manage their cash flow with precision. From supporting digital marketing campaigns to funding inventory purchases, Lenkie allowed Priya to strategically invest in key areas of her business.

As the company looks towards the future, Nudea's focus remains firmly on growth and profitability. By eliminating the tedious process of equity fundraising, Priya has been able to channel her energy towards achieving her vision and revolutionising the fashion industry, one sustainable luxury product at a time.