Overview
Purposeful design, built on recycled fabrics
Nudea was founded in September 2019 by Priya Downes to give modern women luxury products that fit perfectly and are environmentally responsible. A focus on recycled fabrics and sustainability earned the brand B-corp certification and a growing reputation for purposeful design.
The Problem
Surging demand, strained supply chains, and the equity question
The pandemic brought both opportunity and pressure. As more women shopped online, demand surged and propelled the brand through its first two years. But post-pandemic supply chain disruption and falling consumer spending put ongoing strain on the business.
As Nudea expanded beyond direct-to-consumer into partnerships with established retailers, it needed substantial working capital. The conventional route, raising equity, meant diluting ownership and months of founder time spent fundraising instead of running the business.
The Solution
CardPay from day one, a facility within 48 hours
Lenkie's CardPay let Nudea pay all of its invoices using the credit cards the business already qualified for, even where suppliers didn't usually accept card payments. Priya had access immediately on signing up, and was offered a Lenkie Credit Facility within 48 hours of applying.
Together the two products gave the brand a straightforward source of working capital, shifting focus from raising equity to driving growth. As Priya puts it, raising equity to manage cash flow doesn't make sense; the facility bought time to grow, and CardPay unlocked credit the business already had.
The journey
01
Instant CardPay access: supplier invoices paid through existing credit cards from day one
02
Credit Facility offer inside 48 hours of applying
03
Ongoing cash flow control: dashboard insights used to plan repayments and time investments
Without Lenkie's support we wouldn't be able to strategise or reposition the business. We've been able to focus time on improving business and driving the bottom line as opposed to spending time trying to raise working capital through equity.
Priya Downes
CEO and Founder, Nudea
Results
Twenty percent revenue growth, and no dilution
Since applying for funding in January 2023, Nudea has grown revenue 20% year over year. Funding has gone where it moves the business: digital marketing campaigns and inventory purchases, timed with precision using Lenkie's dashboard. By cutting out the equity fundraising process entirely, Priya has been able to put her energy into the product and the brand's future.
20%
year over year revenue growth since funding
48 hrs
to a Credit Facility offer
Takeaway
Nudea's story separates two things founders often conflate: funding the business and selling the business. Working capital was the need; equity was just the assumed route. With CardPay and a credit facility in place, the brand grew revenue 20% and Priya kept every share she started with.
