 "D2C firm Mensa Brands raises Rs 300 crore debt from TradeCred")
Direct-to-consumer (D2C) firm Mensa Brands on Tuesday said it has raised Rs 300 crore debt from TradeCred.
The funds will be used for new brand acquisitions as well as brand growth, including product development, supply chain integration, and working capital investment, the company said in a statement.
"With this additional capital, we will be able to double down on our growth ambition," Mensa Brands Founder & CEO Ananth Narayanan said.
At present, Mensa has 25 brands across fashion, home, beauty and FMCG, including Dennis Lingo, Villain, Pebble, and MyFitness.
Debt platform TradeCred has over Rs 2,200 crore of assets under management and more than 20,000 active users as of February 2022, the company said.
"As part of Mensa's Rs 300 crore financing arrangement, 50 UHNIs (Ultra high-net-worth individuals) collectively participated," it added.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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