Fashinza and BlackSoil have teamed together to offer finance to small Indian businesses
10 December 2021, Mumbai:
Fashinza, India's fastest-growing B2B garment manufacturer, has established a strategic relationship with BlackSoil Capital, a Mumbai-based alternative financing platform.
The partnership would not only assist small Indian manufacturers in obtaining financing, but it will also speed up the manufacturing process and help to balance global demand and supply.
Furthermore, with this partnership, Fashinza and BlackSoil Capital will allow local manufacturers to collaborate directly with the greatest fashion brands in India and throughout the world, enabling them to create world-class solutions. Fashinza will connect fashion and clothing companies with MSME manufacturers and handle end-to-end production from design to delivery, providing a one-stop solution and simplified experience.
BlackSoil, on the other hand, has committed the US $ 2.7 million to support the company's rapid expansion and ability to scale demand.
I'm thrilled to be able to help Fashinza. "Fashinza with its services will play a crucial part in the garment sector shift to becoming tech-driven and more sophisticated by fixing the underlying structural gaps and difficulties in the ecosystem," said Ankur Bansal, co-founder of BlackSoil.
"The potential of indigenous manufacturers in countries like India and Bangladesh remains unrealized to a large part owing to financial restrictions," stated Abhishek Sharma, Co-founder, BlackSoil. We'll not only recruit and keep business with such suppliers with the funding supplied by BlackSoil, but we'll also elevate them to global players."
Fashinza is a B2B garment manufacturing platform founded in 2020 by Abhishek Sharma, Pawan Gupta, and Jamil Ahmad.
There are 700 fashion labels and 500 producers. Currently, BlackSoil operates an alternative credit platform that includes an RBI-registered NBFC and four SEBI-registered AIFs.
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