Fashinza, a real-time global supply chain for fashion companies and retailers, has reportedly raised USD 100 million in a Series B funding round that was spearheaded by Westbridge, and Prosus Ventures (Naspers Ventures).

The latest fundraising that includes both equity and debt investment saw participation from existing investors including Elevation, Accel, and DisruptAD, along with angel investors like Nivi, Jeff Fagnan, Naval Ravikant, Jake Zeller, and Nitesh Banta.

The fresh capital will be deployed to build a supportable supply chain for the global fashion industry and to develop the company's global presence. This includes expanding into raw material procurement, monetizing fintech offerings, assisting Indian SMEs with supply chain financing, the development of a sustainable supply chain by 2030, and Industry 4.0 solutions for SMB enterprises.

According to Pawan Gupta, CEO and Co-founder of Fashinza, the company's mission is to assist partner brands and grow with an efficient supply chain that benefits everybody, which is already expanding its impact on customers’ lives.

Meanwhile, the co-Founder and COO Abhishek Sharma mentioned that the huge data collected by the firm is now being utilized to solve financial difficulties for their consumers and suppliers.

For those unaware, Fashinza has grown 10 times since the last year, reaching USD 150 million in annualized gross merchandise value run rate, that too during a global pandemic. In a single year, the company decreased the minimum order units to 50 and shortened design to delivery turnaround time by 50%.

Sandeep Singhal, the Managing Director of WestBridge Capital, believes that Fashinza can use technology to change the supply chain of the fashion industry

It is worth mentioning here that Fashinza presently serves over 200 brands in six nations, including the United Arab Emirates, Canada, the United States, and India, via a roster of over 250 manufacturers in China, India, Bangladesh, and Vietnam.

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https://www.business-standard.com/article/companies/b2b-platform-fashinza-raises-100-mn-in-funding-led-by-prosus-westbridge-122051701334_1.html