Marketplace roll up platforms in India are experiencing unprecedented interest from investors of all sizes. Over half a dozen companies in the space have raised over $ 350 million from Angels to high profile investors like SoftBank and Tiger Global.
After investing in Goat Brand Labs, Tiger has now placed another bet: cafeteria, in the same segment. Mensa has raised $ 10 million from Tiger Global, according to the company’s filings in Singapore. The new tranche for the company came after raising $ 33 million under the joint leadership of Alpha Wave Incubation (AWI) and Norwest.
Trickypedia would have exclusively reported the August 23 installment that valued cafeteria at $ 200 million.
Evaluation and current shareholder structure
Corresponding Trickypedia It is estimated that Tiger Mensa has valued between $ 250 million and $ 260 million. This means that the company’s valuation has risen by 28.2% compared to the last financing tranche in August.
Tiger is likely to invest another $ 50 million in cafeteria, according to sources.
Following the transaction, Tiger acquired a 4.12% stake in Mensa, while Accel Partners is the largest shareholder among the investors with 17.5%. Bergwelt, the co-founder, owns 46.80% of the six-month-old company. You can find the full ownership structure of Mensa in the pie chart below.
Business model and competition
Similar to Thrasio and Perch, Mensa will acquire direct-to-consumer or D2C brands in three industries (home, lifestyle and beauty) with sales between $ 1.5 million and $ 10 million. According to its website, Mensa helps D2C companies with process optimization, growth hacking, demand planning, expansion and marketing.
It plans to acquire 50 brands in the next few years and competes with GlobalBees, GOAT Brand Labs, 10club, Powerhouse91, Upscalio and Evenflow.
While the marketplace in India is just beginning, many believe it will get crowded. There are currently seven large companies operating in space and all of them are funded. In fact, some of them are over-funded.
GlobalBees raised $ 150 million in a mix of equity and debt, while Upscalio and 10Club raised $ 42.5 million and $ 40 million respectively.