Thrasio- style ecommerce rollup unicorn Mensa Brands has secured INR 300 Cr ($36.2 Mn) debt backing from wealthtech platform TradeCred. Mensa plans to use the fresh capital for acquiring new brands and accelerate brand growth. This will include product development, force chain integration, and working capital investment. Launched in 2021, Mensa has 25 brands across fashion, home, beauty, and FMCG under its portfolio. It builds digital-first brands by partnering and investing in the business, and bringing technology to gauge the brands. The company last time in December acquired online life publications MensXP, iDiva, and influencer marketing operation establishment Hypp from Times Internet.
The brand aggregator Asia’s fastest unicorn within 6 months of its launch. It’s backed by investors similar to Accel mates, Falcon Edge Capital, Norwest Venture mates, Prosus, and Tiger Global Management. Mensa presently houses 25 D2C brands across parts, including fashion, home, beauty & FMCG, and claims to have served further than 10 million customers With services across Bangalore, Mumbai, Gurgaon, UAE, and the US, Mensa has grown to a 700 strong team. Ananth Narayanan, Author & CEO of Mensa Brands, said on the fundraise, “The growth of our business in India and around the world continues to be phenomenal. We’re introducing the path to an assiduity first tech led house of brands with our five order leaders.
With this fresh capital, we will be suitable to double down on our growth ambition”. TradeCred, meanwhile, dispenses debt for launch- ups and manages an AUM of over Rs 200 crore with INR 200 crores of AUM. As part of Mensa’s rearmost Rs 300 crore- backing arrangement, 50 Ultra High Net Worth individualities (UHNIs) also shared. The company also counts Norwest Venture mates, Prosus, Tiger Global and debt backing platforms Alteria Capital, InnoVen Capital, Oxyzo, and Stride gambles as its backers.