The Weekend Leader - Fashinza Raises $100 Million Series B Funding

Fashinza Raises $100 Million Series B Funding


(Left to right) Jamil, Pawan and Abhishek

AI-driven B2B marketplace for global fashion supply chains, Fashinza, has raised a $100 million in Series B funding round led by Prosus Ventures and Westbridge along with participation from existing investors Accel, Elevation, and DisruptAD.

The round also saw participation from angel investors Naval Ravikant, Jeff Fagnan, Jake Zeller, Nivi, and Nitesh Banta. The funding round is a combination of equity and debt financing.

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

This includes monetizing fintech offerings, expanding into raw material procurement, helping Indian SME apparel manufacturers with supply chain financing, creating a sustainable net positive supply chain by 2030 and Industry 4.0 solutions for SMB manufacturers.

In the past 12 months, and in the middle of a global pandemic, Fashinza grew the business 10x crossing $150 million in annualized GMV run rate.

The company also reduced minimum order units to as low as 50 and reduced design to delivery TATs by 50% in a single year. Fashinza has a roster of over 250 manufacturers in India, Bangladesh, China, and Vietnam that currently serves 200 plus brands across 6 countries, including the United States, Canada, UAE, and India.

“We are excited to expand our global presence and offer fast and sustainable tech-based supply chain solutions -- especially to our customers in North America,” said Pawan Gupta, CEO and Co-founder of Fashinza.

“Our goal to help our partner brands and manufacturers work and thrive with an agile supply chain that benefits all is now a reality and already increasingly impacting our customers’ lives.”

“Our mission is to create a sustainable, futuristic, and agile fashion supply chain using technology while improving the ethics and sustainability in the supply chain,”Abhishek Sharma, COO and Co-Founder, Fashinza. “We are now also using the massive data we generate to solve financial challenges for our customers and suppliers with our fintech products.”

“At Fashinza we believe that we cannot grow alone but only with the growth of our SME partners and customers.

Jamil Ahmad, Chief Business Officer and Co-founder of Fashinza said the funds infusion would help in “executing new strategies and implement new solutions, leading to all round growth across geographies.” - TWL Bureau

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