Debt financing
Fashion supply chain startup Fashinza attracts $30-M
Gurugram-based fashion supply chain startup Fashinza has raised USD 30 million in debt funding from Mars Growth Capital and Liquidity Group. The company will use the funds to support working capital requirements to expand into the US, Gulf region, and Europe. Founded in 2020 by Abhishek Sharma, Pawan Gupta, and Jamil Ahmad, Fashinza's business-to-business (B2B) marketplace connects small, medium, and micro enterprises directly to fashion brands across the world. Fashinza offers logistics, fintech, and payment support on its platform. It currently has over 250 factories that serve over 200 brands across the US, Canada, the UAE, the UK, and India. To date, the firm has raised more than USD 135 million from investors including Elevation, Prosus, Westbridge Capital, and Stride Ventures. In its latest funding round in May 2022, the company raised USD 100 million in equity and debt from Prosus Ventures and Westbridge Capital.
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