Gurugram Based Fashion Startup Fashinza raised $30 million from Mars Growth Capital and Liquidity Group. The Company was founded in 2020 by Abhishek Sharma, Jamil Ahmad, and Pawan Gupta. Fashinza is the B2B business model which connects small and medium-sized businesses to the top fashion brands in the world.
What does Fashinza will do with Raised Money?
The Company will utilize the raised funds to increase working capital to expand in US, Europe, and Gulf. The company has over 250 factories that supply over 200 brands in different countries such as India, the US, Canada, Uk, and UAE.
Fashion Startup has raised $135 million so far from investors, including Stride Ventures, Elevation, Prosus, and Westbridge Capital. In the previous funding round in May 2022, it raised around $100 million in equity and debt from Westbridge Capital and Prosus Ventures.
It provides logistics, fintech, and payments support to B2B platforms and gives competition to the Singapore-based Company Zilingo.