B2B platform Fashinza bags $100M in series funding round led by Westbridge and Prosus Ventures
- ByStartupStory | May 18, 2022
Fashinza, an AI-driven B2B marketplace, and worldwide supply chain for fashion companies and retailers, has raised $100 million in a Series B funding round, headed by Westbridge and Prosus Ventures, including previous investors Elevation Capital, Accel, and DisruptAD. Angel investors such as Naval Ravikant, Nivi, Jeff Fagnan, Jake Zeller, and Nitesh Banta also participated in the round. The fundraising round includes both stock and loan investments. The company decided to use the raised funds to establish a sustainable supply chain and expand its presence.
In the last 12 months despite the pandemic, Fashinza has increased its business 10 times , crossing $150M in yearly GMV run rate. The company mentioned that it decreased the minimum order units to 50 and reduced design-to-Delivery turn-around-times by 50% in one year.
Founded by Pawan Gupta, Jamil Ahmad, and Abhishek Sharma in 2020 the company operates everything from design to delivery, with very low minimums
CEO Fashinza quoted that they are excited to expand their global presence and offer fast and sustainable tech-based supply chain solutions, especially to their customers in North America
The firm’s marketplace also included Fintech, Payment support, and logistics.
The company has more than 250 manufacturers in Bangladesh, Vietnam, India, and China, currently, it serves over 200 brands in 6 countries including Canada, India, UAE, and US
Follow Startup Story
Related Posts
