Fashinza, a technology-driven B2B marketplace for global fashion supply chains, has secured $30 million in working capital funding from Mars Growth Capital and Liquidity Group.
This follows a $100 million Series B round in May 2022 and a $20 million Series A round co-led by Accel and Elevation Capital in August 2021. With this, the firm has scooped up over $150 million in risk capital over 5 funding rounds according to CrunchBase.
According to news sources, its previous round valued the company somewhere between $300 million to $400 million. However, the company has not disclosed its valuation for the new funding round.
The company says the funding will help it meet its ongoing transition efforts into a global business with significant operations in the USA, Gulf, and Europe.
Launched in 2020 by serial entrepreneurs Pawan Gupta, Abhishek Sharma, and Jamil Ahmad, the Gurugram-based B2B company enables seamless end-to-end online purchasing between fashion brands and their customers. It also solves credit for fashion brands and suppliers in cross-border transactions through its Buy Now Pay Later (BNPL) program.
The company claims that it has a roster of over 250 factories that currently serves more than 200 brands across five countries, including the U.S., UAE, UK, and India.
Fashinza counts Zetwerk, Zilingo, Bizongo, Geniemode and Groyyo as some of its direct competitors while it indirectly competes with Udaan’s fashion vertical and Flipkart-Amazon’s wholesale businesses.