Mensa Brands To Raise INR 48 Cr Debt From Stride Ventures

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Tiger Global-backed house of brands startup BRND.ME (formerly Mensa Brands) is raising INR 48 Cr (around $5.6 Mn) debt funding from existing investor Stride Ventures.

The unicorn’s board passed a resolution in March to issue 4,800 non-convertible debentures (NCDs) to raise the sum, as per its filings sourced from the Registrar of Companies (RoC).

The house of brands unicorn plans to use the capital to meet its working capital requirements and general corporate purposes.

BRND.ME declined to comment on Inc42’s queries on the development.

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Mensa Brands To Raise INR 48 Cr Debt From Stride Ventures


Tiger Global-backed house of brands startup BRND.ME (formerly Mensa Brands) is raising INR 48 Cr (around $5.6 Mn) debt funding from existing investor Stride Ventures.

The unicorn’s board passed a resolution in March to issue 4,800 non-convertible debentures (NCDs) to raise the sum, as per its filings sourced from the Registrar of Companies (RoC).

The house of brands unicorn plans to use the capital to meet its working capital requirements and general corporate purposes.

BRND.ME declined to comment on Inc42’s queries on the development.

In…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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