Latest News | Fashinza Raises $100 Million in Funding Led by Prosus, Westbridge

New Delhi, May 17 (PTI) B2B marketplace Fashinza on Tuesday said it has raised USD 100 million (about Rs 774 crore) in a series-B funding round led by Prosus Ventures and Westbridge Capital.

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.

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Fashinza will utilise the funds towards creating a sustainable supply chain for the global fashion industry and in expanding the company's presence globally.

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.

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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.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)