Fashinza raises $30 million funding from Mars Growth Capital and Liquidity Group
Today, Mars Growth Capital and Liquidity Group revealed that Fashinza, an AI-driven B2B marketplace for global fashion supply chains, had received $30 million in working capital funding. By automating the complete debt lending cycle, Liquidity Group, a cutting-edge technology company, has become the industry’s fastest-growing lender to mid-market, late-stage companies worldwide. The money will help Fashinza continue its transformation into a multinational company with sizable activities in the USA, the Gulf, and Europe.
In the era of Tiktok and Instagram, where fashion choices are immediately influenced on a global scale, fashion is constantly changing, but never more so than now. Fashion brands need to be extremely agile and have extremely effective supply chain management if they want to remain ahead of the curve. If they continue to depend solely on big manufacturers, as in the past, this is not possible. By putting SMEs in direct contact with the biggest fashion brands worldwide, Fashinza offers a creative answer to this issue. Fashinza is transforming the way that fashion operates in the current high-speed digital era by developing an online platform that enables both buyers and vendors to connect in a seamless manner.
“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,” remarked Navas Ebin, Managing Director of APAC for Mars Growth Capital and Liquidity Group.
“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,” said Abhishek Sharma, Co-Founder and COO of Fashinza. “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. At the same time, we remain committed to delivering exceptional service to our key customers in the USA and beyond, as we continue to revolutionize the fashion manufacturing industry,” Abhishek Sharma added.
The funds will be used by Fashinza to satisfy its expanding working capital needs abroad.“Our capital is non-asset based and will hence 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 companies like Fashinza to transition into becoming truly global businesses, and the prospects for a long-term partnership with the company are exciting,” added Nir Shmueli, Investment Manager at Mars Growth Capital and Liquidity Group.
