B2B marketplace Fashinza raises USD 100 million in funding led by Prosus, Westbridge

B2B marketplace Fashinza has raised USD 100 million (about Rs 774 crore) in a series-B funding round led by Prosus Ventures and Westbridge Capital, the company has said in a statement, according to a PTI report.

The round also saw participation from existing investors -- Accel, Elevation and DisruptAD, and angel investors -- Naval Ravikant, Jeff Fagnan, Jake Zeller, Nivi and Nitesh Banta.

Fashinza will utilise the funds towards creating a sustainable supply chain for the global fashion industry and in expanding the company's presence globally.

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Fashinza's COO and Co-Founder Abhishek Sharma said the company will invest in supply chain technology and increasing sales and marketing team as well.

In the past 12 months and in the middle of a global pandemic, Fashinza grew the business 10 times crossing USD 150 million in annualised GMV run rate.

Fashinza has a roster of over 250 manufacturers in India, Bangladesh, China and Vietnam that currently serves over 200 brands across six countries including the United States, Canada, UAE, and India.