B2B Platform Fashinza Raises $100 Million

Fashinza, a B2B marketplace and real-time global supply chain for fashion brands and retailers,  has raised $100 million in a Series B funding round led by Prosus Ventures and Westbridge along with the participation of angel investors Naval Ravikant, Jeff Fagnan, Jake Zeller, Nivi and Nitesh Banta and existing investors Accel, Elevation and disruptAD.

The startup is planning to use the raised funds to create a sustainable supply chain for the global fashion industry and to expand the company’s global presence. It also includes monetizing fintech offerings, expanding into raw material procurement, helping Indian apparel manufacturers with supply chain financing, establishing a sustainable supply chain by 2030, and industry solutions for SMB manufacturers.

In the midst of a global pandemic over the past 12 months, Fashinza has grown its business tenfold, surpassing its annual GMV run rate of $150 million. The company also reduced the minimum order quantity to 50 units and reduced the design to deliver TATs by 50% in one year.

Fashinza has more than 250 manufacturers in India, Bangladesh, China, and Vietnam and currently supplies more than 200 brands to 6 countries including the USA, Canada, United Arab Emirates, and India.