- Fashinza suppliers experienced a 200% YoY increase in earnings in 2021 from increased capacity utilization
- Fashinza customers reported a 25% reduction of costs in inventory and a 20% increase in topline with faster TATs and lower minimums
- The company experienced 10x growth in 12 months along with increasing their global footprint
DELHI, India–(BUSINESS WIRE)–Fashinza, the AI-driven B2B marketplace and real-time global supply chain platform for fashion brands and retailers, today announced a Series B funding round totaling $100M USD. The round is led by Prosus Ventures (f.k.a. Naspers Ventures) and Westbridge along with participation from existing investors Accel, Elevation, and ADQ. The round also saw participation from angel investors Naval Ravikant, Jeff Fagnan, Jake Zeller, Nivi, and Nitesh Banta. The round includes a mix of equity and debt financing.
In the past 12 months, Fashinza grew the business 10x crossing $150 million in annualized GMV run rate. The company also reduced minimum order quantities to as low as 50 and reduced design to delivery TATs by 50% in a single year.
Fashinza is using the new funds to invest in supply chain technology and expand the company’s presence globally. This includes monetizing fintech offerings, expanding into raw material procurement and creating a sustainable (i.e. net positive) supply chain by 2030 and Industry 4.0 solutions for SMB manufacturers.
Fashinza has a roster of over 250 manufacturers that currently serves 200+ brands across 6 countries, including the United States, Canada, UAE, and India.
