Clensta onboards JM Financial as investment banker, eyes 150% growth next fiscal

Personal care brand Clensta has onboarded investment banking firm JM Financial. The direct to customer business plans to continue its rapid expansion which JM Financial will provide assistance in along with guidance on future fund-raising initiatives.

“Our tie-up with JM Financial is part of a series of strategic decisions taken by us following Clensta’s association with actor Parineeti Chopra as an investor and hiring Ashish Mishra (ex-Mamaearth, VLCC) as our co-founder and CBO,” said Clensta’s founder Puneet Gupta in a press release. “We hope to deepen and broaden our omni-channel distribution to include the retail, online, international and alternate markets while securing large-ticket deals in the institutional and export segments. We are on the right trajectory and feel this is a good time to bring in a partner like JM Financial. With them coming in, we now look forward to focusing on building our business while continuing to grow under the leadership of Ashish.”
 
JM Financial is one of India’s oldest financial institutions and the business has been involved in marquee initial public offerings for a number of businesses in the beauty and personal care space including Nykaa and Mamaearth. The 2023 financial year saw Clensta grow by 100% and the business reported that it is on track to grow by 150% in the next financial year. 
 
For its next round of expansion, Clensta aims to leverage an omni-channel playbook to an optimal category mix, according to the business. Along with penetrating the Indian market, Clensta has organically expanded internationally and plans to continue this trajectory.