Fashinza raises $30 million from Mars Growth Capital and Liquidity Group
- The funding will fuel the company’s ongoing transition into a global business with significant operations in the USA, the Gulf region and Europe.
- Last May, Fashionza had raised $100 million in a Series B round of funding led by Prosus Ventures and Westbridge Capital.
- The company helps brands to connect with manufacturers and produce new collections within a short turnaround time.
Gurgaon-based Fashinza will use the capital to meet its growing international working capital requirements. "Our capital is non-asset based and will hence support Fashinza to grow their business internationally in the most capital-efficient manner," said Navas Ebin, managing director of APAC for Mars Growth Capital and Liquidity Group.
Mars Growth Capital is a Singapore-based technology fund, created to provide access to non-dilutive, affordable and liability-free growth capital for fast-growing startups and tech companies in the Asia-Pacific and EMEA region.
Last May, Fashinza had raised $100 million in a Series B round of funding led by Prosus Ventures and Westbridge Capital.
"Fashinza is transforming the global fashion supply chain. Their performance since inception, the strength of their founding team, and their existing global network of manufacturers and customers gave us enough confidence in their ability to scale this business and sustain in the medium- to long-term," added Ebin.
Fashinza is an artificial intelligence (AI)-driven business-to-business (B2B) marketplace for global fashion supply chains. The company says it helps brands to connect with manufacturers and produce new collections within a short turnaround time.
"As we focus on expanding our presence in international markets, including the USA, we are excited to partner with Liquidity Group to support our growth and to bring our innovative manufacturing solutions to a global audience," said Abhishek Sharma, co-founder and chief operating officer of Fashinza.
“With their flexible cross-border financing solutions and extensive knowledge of navigating international markets, we are confident that we can successfully penetrate new markets and provide our manufacturing solutions to key clients worldwide,” added Sharma.
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