Mensa Brands closes $40 million debt-financing round from EvolutionX

Mensa Brands, the roll-up e-commerce company founded by former Myntra CEO Ananth Narayanan, has closed a $40 million (around Rs 330 crore) debt-financing round from EvolutionX. The startup has also issued convertible notes as part 0f the round.

The money will be spent on marketing and the company also will invest in tech to improve operations. This is Mensa’s second loan in less than eight months. The Bengaluru-based company closed a Rs 300-crore debt round from TradeCred in February.