Mensa Brands raises Rs 300 crore in debt funding
Brand aggregator Mensa Brands plans to raise Rs 300 crore in debt from TradeCred. The business plans to use the funds to acquire new brands and grow its existing brands as well as develop its products, integrate its supply chain, and invest in working capital.
“We are pioneering the path to an industry-first tech-led house of brands with our five breakout category leaders,” said Mensa Brands’ founder and CEO Ananth Narayanan, ET Bureau reported. “With this additional capital, we will be able to double down on our growth ambition.”
Ananth Narayanan launched Mensa Brands in 2021 after working as CEO of Flipkart’s fashion arm Myntra. The business currently has a portfolio of 25 brands in sectors spanning fashion, beauty, homeware, and other fast moving consumer goods. By partnering with direct-to-customer brands, Mensa Brands aims to use its technology and experience to scale them up.
Within six months of launching, Mensa Brands was declared a unicorn. The business has backing from investors including Falcon Edge Capital, Prosus, and Accel Partners among others.
Recent brand acquisitions include MensXp, Idiva, and Hypp. By focusing on the direct-to-customer segment of the market, Mens Brands aims to tap into this fast growing market in India where businesses have built a social media following and turned it into sales from their own e-commerce store.
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