Fashinza raises $30 million in debt funding
Fashinza has secured $30 million in debut funding from Mars Growth Capital, a subsidiary of Liquidity Group. The business-to-business fashion e-commerce startup plans to use the funds to continue its international expansion and become a truly global brand, it announced on Facebook.
“As we focus on expanding our presence in international markets, including the USA, we are excited to partner with Liquidity Group to support our growth and to bring our innovative manufacturing solutions to a global audience,” said Fashinza’s co-founder and chief operating officer, the Press Trust of India reported.
Following this investment, Fashinza will be able to tap into Liquidity Group’s experience in navigating international markets. This will enable the business to enter into new markets and to provide manufacturing solutions to its business-to-business customers across the world, ET Bureau reported.
The Gurugram-based business works to streamline global fashion supply chains. The main international markets the business is currently expanding into include the US, Europe, and Gulf countries.
“Their performance since inception, the strength of their founding team, and their existing global network of manufacturers and customers gave us enough confidence in their ability to scale this business and sustain in the medium to long term,” said Liquidity Group and Mars Growth Capital’s managing director for APAC.
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