Personal care brand Clensta has appointed JM Financial as its investment banker to fuel its expansion initiatives. JM Financial will guide the brand on its future fund-raising initiatives.
Clensta has been constantly expanding its business this year, having strengthened its leadership team by onboarding Ashish Mishra as co-founder and CBO along with Parineeti Chopra as partner and key investor for Clensta. The brand is looking at leveraging an omnichannel playbook offering an optimal category mix. The brand commands a strong online and offline presence in the Indian market and has also organically expanded internationally.
“Our tie-up with JM Financial is part of a series of strategic decisions taken by us following Clensta’s association with actor Parineeti Chopra as an investor and hiring Ashish Mishra (ex-Mamaearth, VLCC)) as our co-founder and CBO. We hope to deepen and broaden our omni-channel distribution to include the retail, online, international and alternate markets while securing large-ticket deals in the institutional and export segments. We are on the right trajectory and feel this is a good time to bring in a partner like JM Financial,” Puneet Gupta, founder, Clensta, said.
Earlier this year, Clensta had raised Rs 75 crore in a pre-series B funding round led by TradeCred and co-led by the Royal Family of the UAE and Parineeti Chopra, among other investors. Clensta grew 100% in FY23 and is on track to grow 150% in the next fiscal.