Brand aggregator Mensa Brands plans to raise Rs 300 crore debt from TradeCred. The business plans to use the funds to acquire new brands and grow existing brands as well as product development, supply chain integration, and working capital investments.
Ananth Narayanan, Founder and CEO of Mensa Brands, said: “We are pioneering the path to becoming the technology leader of brands with five disruptive category leaders. ours. “With this additional capital, we will be able to double our growth ambitions.”
Ananth Narayanan to launch Mensa Brands in 2021 after serving as Flipkart’s CEO of fashion Myntra. The business currently has a portfolio of 25 brands in sectors spanning fashion, beauty, home appliances and other FMCG. By partnering with direct-to-consumer brands, Mensa Brands aims to use its technology and experience to scale.
Within six months of its launch, Mensa Brands was declared a unicorn. The business has backing from investors including Falcon Edge Capital, Prosus and Acceleration partner among others.
Recent brand acquisitions include MensXp, Idiva and Hypp. By focusing on the direct-to-consumer market segment, Mens Brands aims to tap into this rapidly growing market in India, where businesses have built a following on social media. and turn it into sales from their own e-commerce store.
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