Fashion supply chain start-up, Fashinza, has secured $30 million in funding from Mars Growth Capital and Liquidity Group to expand its business in the USA, West Asia, and Europe. The company aims to connect small and medium enterprises directly to fashion brands across the world through its platform. Fashinza currently assists over 250 factories of 200 brands in five countries, including India.
Fashinza was founded in 2020 by Abhishek Sharma, Pawan Gupta, and Jamil Ahmad. The company offers innovative manufacturing solutions and aims to transform the global fashion supply chain. The funding will enable Fashinza to grow its business internationally in a capital-efficient manner. The company plans to use the funding to expand its presence in international markets and bring its manufacturing solutions to a global audience.
Navas Ebin, Managing Director of APAC for Mars Growth Capital and Liquidity Group, stated that Fashinza’s performance since inception, the strength of its founding team, and it’s existing global network of manufacturers and customers gave them enough confidence in the company’s ability to scale and sustain its business in the medium- to long-term. Ebin added that the capital is non-asset based and will support Fashinza’s growth in the most efficient manner possible.
Fashinza co-founder and COO Abhishek Sharma expressed excitement about partnering with Liquidity Group to support the company’s growth and bring its innovative manufacturing solutions to a global audience. He stated that with its flexible cross-border financing solutions and extensive knowledge of navigating international markets, Fashinza is confident that it can successfully penetrate new markets and provide its manufacturing solutions to key clients worldwide.
Nir Shmueli, Investment Manager at Mars Growth Capital and Liquidity Group, described Fashinza as a promising pre-unicorn with global aspirations. Shmueli stated that Mars Growth Capital and Liquidity Group have been supporting companies like Fashinza to transition into becoming truly global businesses, and the prospects for a long-term partnership with the company are exciting.
Fashion supply chain start-up, Fashinza’s platform endows small and medium-sized manufacturers with copious advantages, including access to global brands, reduced transaction costs, and shortened lead times. Fashinza’s paramount aim is to eliminate intermediaries and streamline the supply chain by directly connecting manufacturers with fashion brands. The platform offers a variety of features such as real-time order tracking, production management, and quality control.
The fashion industry is a prominent contributor to the world economy but is also notorious for its environmental impact and the mistreatment of workers. Fashinza is devoted to ameliorating these issues by promoting transparency and implementing ethical manufacturing practices. Fashinza collaborates with manufacturers who are committed to sustainability and equitable labor practices.
Conclusively, the recent funding round of the Fashion supply chain start-up, Fashinza will permit the company to expand its business and disseminate its innovative manufacturing solutions worldwide. The company’s platform bequeaths manifold benefits to small and medium-sized manufacturers, including access to global brands, reduced transaction costs, and shortened lead times. Fashinza is determined to metamorphose the global fashion supply chain by promoting transparency and ethical manufacturing practices.
