AVCJ

Norwest and Intel lead $40m Fashionandyou.com round

  • Susannah Birkwood
  • LinkedIn  
  • Google plus  
  • Save this article  

Norwest Venture Partners (NVP) and Intel Capital have led a $40 million funding round in Smile Group Venture and Goldsquare Sales India, the owners of Fashionandyou.com.

Nokia Growth Partners and existing investor Sequoia Capital India also participated in the investment in the Indian e-commerce brand.

Goldsquare will use this new capital for making bolt-on acquisitions, venturing into new business segments and accelerating growth in the areas and geographies in which the company already operates. Fashionandyou.com intends to increase its membership numbers beyond 2.7 million and make supply chain and distribution improvements.

Last year Sequoia invested $8 million in the company, which was used to boost its products, strengthen its technology and widen its distribution.

Niren Shah, managing director of NVP India, said: "Fashionandyou.com has been growing exponentially, and its brand is becoming synonymous with online fashion in India. The company has managed to scale its business significantly because of its early mover advantage."

  • LinkedIn  
  • Google plus  
  • Save this article  

More on South Asia

Latest News

world-hands-globe-climate-esg
Asian GPs slow implementation of ESG policies - survey

Asia-based private equity firms are assigning more dedicated resources to environment, social, and governance (ESG) programmes, but policy changes have slowed in the past 12 months, in part due to concerns raised internally and by LPs, according to a...

  • GPs