SWC Global and IvyCap Ventures co-led a Series A financing round with a total value of INR 110 crore for the fashion D2C firm Snitch.
With the backing of important angel investors, the funding will propel Snitch’s growth in terms of personnel, technological advances, and retailing offline strategy, enhancing its already remarkable performance in the market.
“This funding round, especially in a challenging funding environment, is a testament to our resilience and the strength of our business model. Our focus on delivering exceptional value through our online platforms, coupled with our burgeoning offline presence, positions us well for future growth. We’re excited to continue our journey, setting new benchmarks in retail efficiency and customer satisfaction,” said Siddharth Dungarwal, founder, Snitch.
.According to Snitch, their FY23 turnover exceeded $100 billion. In the next four to five years, the firm plans to add more than 100 offline locations around India as part of its continued growth.
Tuck Lye Koh, Founding Partner, SWC Global said “Our decision to invest in Snitch is rooted in our belief in their visionary approach to fast fashion. Snitch’s impressive performance, especially in a challenging economic landscape, is a testament to its innovative business model and deep understanding of consumer needs. We are excited to support Snitch as they continue to redefine the fashion retail space, and we are confident that this partnership will propel both Snitch and the broader fashion industry forward.”
“Snitch Brand’s unparalleled business model, a passionate founder, and a differentiated approach set them apart in their segment. We invested in this exceptional company, recognizing their ability to not just stay on top of the trends but to create them, propelling them to the forefront of their industry,” added Vikram Gupta, founder and managing partner, IvyCap Ventures.
Capturing global inspirations, SNITCH creates apparel for the fashion-forward, modern man. As a men’s fast fashion brand with an unorthodox style attitude, they create styles based on the newest trends.