House of brands Mensa Brands said it has raised Rs 300 crore in debt funding from TradeCred, a Mumbai-based alternative debt platform. The round also saw participation from fifty ultra-high-net-worth individuals
The company plans to use the raised debt to fuel its acquisition plans, product development, supply chain integration, and working capital investment.
In late December 2022, Mensa Brands acquired MensXP, iDiva, and creator management and marketing company Hypp from Times Internet for an undisclosed amount.
“TradeCred is delighted to partner with Mensa Brands… known for encouraging ‘Made in India’ products to become global and enabling Indian MSMEs to reach the doorsteps of global customers,” said Hardik Shah, TradeCred Founder.
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 expertise and technology to scale the brands.
Source @Indianstartupnews
