B2B marketplace Fashinza raises USD 100 million in funding led by Prosus, Westbridge
B2B marketplace Fashinza has raised USD 100 million (about Rs 774 crore) in a series-B funding round led by Prosus Ventures and Westbridge Capital, the company has said in a statement
B2B marketplace Fashinza has raised USD 100 million (about Rs 774 crore) in a series-B funding round led by Prosus Ventures and Westbridge Capital, the company has said in a statement, according to a PTI report.
The round also saw participation from existing investors -- Accel, Elevation and DisruptAD, and angel investors -- Naval Ravikant, Jeff Fagnan, Jake Zeller, Nivi and Nitesh Banta.
Fashinza will utilise the funds towards creating a sustainable supply chain for the global fashion industry and in expanding the company's presence globally.
See Zee Business Live TV Streaming Below:
Fashinza's COO and Co-Founder Abhishek Sharma said the company will invest in supply chain technology and increasing sales and marketing team as well.
In the past 12 months and in the middle of a global pandemic, Fashinza grew the business 10 times crossing USD 150 million in annualised GMV run rate.
Fashinza has a roster of over 250 manufacturers in India, Bangladesh, China and Vietnam that currently serves over 200 brands across six countries including the United States, Canada, UAE, and India.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
80% return in one year: Brokerage suggests buying this Maharatna PSU stock for 2-3 days, check target
Tata Motors Dividend 2024: Automaker's board recommend 300% dividend - Check payment date and other details
5 investment schemes that provide monthly pension to senior citizens fixed deposit fds savings scss guaranteed return atal pension yojana post office monthly income swps mutual fund
Akshaya Tritiya bank holiday or not Basava Jayanti 2024 festival date Banks closed or open tomorrow may 10 friday check out state-wise full list
09:20 PM IST