Snitch raises Rs 278 crore in a funding round led by 360 One Asset
02 June, Mumbai 2025
An omnichannel menswear fashion brand, Snitch has successfully raised Rs 278 crore (approximately $33.3 million) in a funding round led by 360 One Asset (formerly IIFL Wealth & Asset Management).
The funding round was also attended by existing investors SWC Global, a Singapore-based venture capital firm, and IvyCap Ventures, an early-stage venture capital firm. According to filings sourced from the business intelligence platform Tofler, 360 One Asset contributed the largest portion of the investment with Rs 220 crore, while both SWC Global and IvyCap Ventures each invested Rs 29 crore.
Founded in 2018, the Bengaluru-based company operates in the fast-fashion segment, competing with major players like H&M and Zudio. Snitch offers a diverse range of menswear, including shirts, T-shirts, jeans, jackets, sweaters, hoodies, and accessories. The brand currently operates approximately 59 physical stores across India.
Siddharth Dungarwal, Founder, Snitch, says, the company projects offline sales to contribute about one-third of its total revenue, which was expected to exceed Rs 600 crore for the fiscal year ending March 2025. The brand had reported revenue of Rs 243 crore in FY24, according to Tracxn.
In April, Snitch's revenue rose by 2.2 times in FY25 compared to the previous year, with profitability increasing fivefold. Looking ahead, the brand plans to double its revenues in FY26. It also plans to open 50 more stores in the next 6 months besides expanding into new categories such as bags, footwear, sunglasses, etc, notes Dungerwal.
This latest funding follows a Rs 110 crore infusion in December 2023, which was also led by SWC Global and IvyCap Ventures.
