Fashinza, the AI-driven B2B marketplace and real-time global supply chain platform for fashion brands and retailers, today announced the appointment of Sumit Saxena as the company’s first President of Revenue and Strategy. The appointment comes after a USD $100M Series B round of investment with investors primarily from the UAE, India, and the US, as well as a 10-fold business growth crossing $150 million in annualized GMV run rate.
Saxena will lead Fashinza’s European market operational and business growth. He joins the company after running the global business at FarEye where he played a vital role in helping the company achieve significant growth in various aspects of the business including revenue, team building and process improvement which resulted in higher profitability for the company.
As a core member at FarEye, he helped build the business in GCC, India, APAC and EMEA from the ground up. With more than 14 years of experience, Saxena will help to expand Fashinza’s customer base across key European markets, lead all aspects of global business operations and fuel the company’s continued revenue growth.
“We are excited to welcome Sumit Saxena as President of Revenue and Strategy at Fashinza,” says Pawan Gupta, CEO and co-founder of Fashinza. “He is joining us at the right stage in our growth and brings a highly specialized blend of leadership, customer retention strategy and market expansion experience to the team. Sumit’s prior start-up success is invaluable and key to our growth in the global markets like the GCC, UK/EU & Americas.”
“Staying true to our recent funding announcement roadmap, working with Sumit means we can continue to refine our supply chain technology and grow into these new markets, along with our tremendous growth in the UAE,” says Abhishek Sharma, co-founder of Fashinza. “We know the current experience for B2B apparel manufacturing is broken and we are hyper-focused on a tech-driven solution that offers transparency and control — Sumit will continue to lead us there.”
“Fashion is a trillion-dollar industry with huge scope for technology to automate the way brands work today. Technology will enable brands & manufacturers to be more efficient resulting in better management and visibility. As Uber changed the way we travel & Airbnb the way we holiday, Fashinza aims to revolutionize the way brands source,” said Saxena. “It’s an immense opportunity for us to contribute, given the current state of the supply chain pre & post-COVID days. I am very excited to play a role in this journey and to work with some of the brightest minds in this space to re-shape the fashion Industry.”
Fashinza has a roster of over 250 manufacturers that currently serves 300+ brands across 6 countries, including the UAE, United States, Canada, and India.
For additional information, please visit www.fashinza.com.