Fashinza, a B2B marketplace, has raised USD 100 million (about Rs 774 crore) in a series-B fundraising round led by Prosus Ventures and Westbridge Capital, according to the firm.
According to a PTI report, the B2B marketplace Fashinza has raised USD 100 million (about Rs 774 crore) in a series-B fundraising round headed by Prosus Ventures and Westbridge Capital. Existing investors Accel, Elevation, and DisruptAD joined the round, as well as angel investors Naval Ravikant, Jeff Fagnan, Jake Zeller, Nivi, and Nitesh Banta. The cash will be used by Fashinza to build a sustainable supply chain for the global fashion industry and to develop the company’s global presence.Abhishek Sharma, Fashinza’s COO and Co-Founder, stated that the company will invest in supply chain technology as well as expanding its sales and marketing team. Fashinza grown the business tenfold in the last year, reaching USD 150 million in annualised GMV run rate in the midst of a global epidemic. Fashinza presently services over 200 brands in six nations, including the United States, Canada, the United Arab Emirates, and India, through a roster of over 250 manufacturers in India, Bangladesh, China, and Vietnam.
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