Fast-fashion company Snitch successfully raises Rs 110 crore in a Series A funding round co-led by SWC Global and IvyCap Ventures, signaling strong investor confidence. The investment, totaling around $13 million, marks a significant milestone for Snitch, positioning it for expansion, increased hiring, and enhanced technological capabilities.

Snitch, operating in the direct-to-consumer (D2C) space, refrains from disclosing its valuation; however, industry insiders estimate it to be within the typical revenue multiple range of four to six times. This valuation would place Snitch's worth at approximately Rs 400 crore.

The funding comes at a time when D2C companies, including Snitch, are navigating challenges associated with slower growth post-pandemic. Despite the sector's consolidation trend, Snitch stands out with this major capital injection, building on its previous investments from industry figures like Peyush Bansal of Lenskart and Aman Gupta of Boat.

Snitch, known for its focus on delivering value through both online and offline channels, plans to utilize the funds for expanding its offline presence, recruiting new talent, and advancing its technological infrastructure. Founder Siddharth Dungarwal expresses confidence in Snitch's future growth trajectory, highlighting its commitment to exceptional value delivery.

Ashish Wadhwani, co-founder and managing partner of IvyCap Ventures, is set to join Snitch's board as part of the investment arrangement. SWC Global, with a portfolio that includes successful investments in companies like Meesho and Gojek, underlines its confidence in Snitch's visionary approach to fast fashion.

In the competitive realm of fast fashion, where brands like Zara, H&M, and Tata's Zudio operate, Snitch's innovative business model and consumer-centric strategies have contributed to its remarkable performance amid economic challenges. The funds raised will play a pivotal role in propelling Snitch toward its strategic goals and solidifying its position in the dynamic fashion landscape.