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Fashinza, a B2B marketplace, has secured $30 million working capital from Mars Growth Capital and Liquidity Group.
Liquidity Group is a lender to mid-market, late-stage companies globally by automating the debt lending cycle. These fresh funds will fuel Fashinza’s ongoing transition into a global business with operations in the USA, Gulf, and Europe.
“Fashinza is transforming the global fashion supply chain. 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 Navas Ebin, Managing Director of APAC for Mars Growth Capital and Liquidity Group.
New markets
“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. With their flexible cross-border financing solutions and extensive knowledge of navigating international markets, we are confident that we can successfully penetrate new markets and provide our manufacturing solutions to key clients worldwide.
Also read: VC funding in Indian startups nosedives 80.8% YoY: GlobalData
We remain committed to delivering exceptional service to our key customers in the USA and beyond, as we continue to revolutionise the fashion manufacturing industry,” said Abhishek Sharma, Co-Founder and COO of Fashinza.
‘Truly global business’
Fashinza will use the capital to meet its growing international working capital requirements. “Our capital is non-asset based and will support Fashinza to grow their business internationally in the most capital-efficient manner,” said Navas Ebin.
“Fashinza is a promising pre-unicorn with global aspirations. Mars Growth Capital and Liquidity Group have been supporting such companies to transition into truly global businesses, and the prospects for a long-term partnership with Fashinza are exciting,” added Nir Shmueli, Investment Manager at Mars Growth Capital and Liquidity Group.
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