Digital first brand scaler Mensa Brands has secured $40 million from debt financing platform business EvolutionX Debt Capital. The company will use the capital to build its portfolio across segments including operations, technology, and marketing.
“Mensa has proven its execution capabilities with the successful acquisition of multiple brands, and we look forward to supporting the company’s journey as it continues to grow its brands both in domestic and international markets,” said EvolutionX Debt Capital partner Rahul Shah, Your Story reported. “With this investment, we continue our strategy to invest in category-leading growth stage tech companies in Asia.”
The funding is a mixture of debt facility and convertible investment. EvolutionX Debt Capital was founded by DBS and Temasek and specialises in technology-driven companies in India as well as other countries.
“In the last two years, we have profitably scaled more than 20 brands across beauty and FMCG [fast moving consumer goods], fashion, home, and consumer electronics,” said Mensa Brands’ founder Ananth Narayanan. “We plan to use this new funding to continue building consumer-loved brands for the next generation of India.”
Mensa Brands owns a range of fashion and lifestyle brands including Dennie Lingo, Karagiri, Ishin Fashions, BonKids, Lilpicks, and High Star among others. The business scales the brands to expand their distribution and customer base.
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