Fashinza to Empower Jaipur’s Apparel Manufacturers with Business Growth, Supply-Chain Financing & Technology Deployment Programme

Posted On Tue, June 14, 2022, 3:56 PM
Fashinza raised $100 Million (Rs. 770 Crore) in Series B funding led by Prosus, Westbridge Capital

Fashinza, the AI-driven B2B marketplace and real-time global supply chain for fashion brands and retailers, announced a business growth opportunity for apparel manufacturers in Jaipur. Fashinza is helping apparel manufacturers with supply financing options to overcome working capital issues. Fashinza is also helping apparel manufacturers with new technology deployment for real time tracking and monitoring of the production and to have better control over visibility for all partners. The company’s aim is to help SMEs in Jaipur grow by increasing their manufacturing efficiencies and helping them win new customers, from India and around the world.

Fashinza recently raised a $100 million (Rs. 770 crore) in Series B funding round led by Prosus Ventures (f.k.a. Naspers Ventures) and Westbridge along with participation from existing investors Accel, Elevation, and DisruptAD. The round also saw participation from angel investors Naval Ravikant, Jeff Fagnan, Jake Zeller, Nivi, and Nitesh Banta.

Fashinza will utilize the funds towards creating a sustainable supply chain for the global fashion industry. Fashinza is monetizing fintech offerings, expanding into raw material procurement, helping Indian SME apparel manufacturers with supply chain financing, and Industry 4.0 solutions for SMB manufacturers.

“India is a hub for apparel manufacturing, with significant and huge contributions from Jaipur, Ludhiana and Tiruppur. At Fashinza our aim is to help apparel manufacturers – big and small – improve efficiencies and capacities so that they can grow their business,” adds Pawan Gupta, CEO and Co-founder of Fashinza.

“Our mission is to create a sustainable, futuristic, and agile fashion supply chain using technology while improving the ethics and sustainability in the supply chain. We are now also using the massive data we generate to solve financial challenges for our customers and suppliers with our fintech products,” says Abhishek Sharma, COO and Co-Founder, Fashinza.

“At Fashinza we believe that we cannot grow alone but only with the growth of our SME partners and customers. The funds infusion would help us in executing new strategies and implement new solutions, leading to all round growth across geographies,” adds Jamil Ahmad, Chief Business Officer and Co-founder of Fashinza.

In addition to solving complex supply chain issues, Fashinza’s ‘flexible and transparent’ marketplace model also includes logistics, fintech, and payment support.

This press release is posted under categories India, Business
Tags: Fashinza

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