Mensa Brands has raised a whopping Rs 300 crore debt from TradeCred. Mensa plans to utilize the funds for new brand acquisitions as well as brand growth, including product development, supply chain integration, and working capital investment.
Launched in May 2021, Mensa became Asia’s fastest unicorn and the second fastest globally. The company has 25 brands across Fashion, Home, Beauty, and FMCG, including break-out category leaders in their segment – Dennis Lingo, Villain, Pebble, and MyFitness. Mensa has built a sustainable business model supported by a market-leading technology platform and boast a jaw-dropping customer base of more than 10 million. Mensa now has around 700 employees across offices in Bengaluru, Mumbai, Gurgaon, UAE, and the US and has built a strong values-driven culture based on ‘caring meritocracy’, ‘thinking big’, and ‘frugality’ with a strong focus on ‘customer delight’ and being ‘fair, fast and founder-friendly’.
Ananth Narayanan, Founder and CEO, Mensa Brands, said, "The growth of our business in India and around the world continues to be phenomenal. We are pioneering the path to an industry-first tech-led house of brands with our five breakout category leaders. This additional capital will enable us to double down on our growth ambition.”
TradeCred, founded by Hardik Shah in 2018, is India's largest Alt-debt platform, with Rs 2,200+ crore of AUM and more than 20,000 active users as of February 2022. As part of Mensa's Rs 300 crore financing arrangement, 50 UHNIs collectively participated.
Hardik Shah, Founder, TradeCred, said, "TradeCred is delighted to partner with Mensa Brands, the market leader and fastest-growing company in its space, known for encouraging ‘Made in India’ products to become global, and enabling Indian MSMEs to reach the doorsteps of global customers."