Mensa Brands reported raising 3 billion rupees ($36 million) in debt from TradeCred after a flurry of M&A agreements last year to continue the acquisition frenzy.
Mensa Brands, an Indian company, was established in May 2021, and within only six months, after obtaining a US $135 million series B investment, it became a unicorn.
The roll-up e-commerce company, which takes inspiration from Thrasio, a large US company, soon acquired 25 companies across several categories, including fashion, home, and beauty.
Ananth Narayanan, CEO of Mensa Brands, stated in a statement that the new funding will be utilized to double down on our growth goal.
Narayanan co-founded and served as CEO of the e-health business Medlife before founding Mensa Brands. Medlife later merged with Pharmeasy.
According to estimates, India may be seeing the so-called “aggregator bubble” as roll-up businesses seek acquisitions to support their valuations.
