Roposo raises 5 million dollars in series B funding

Relevant e-solutions, has raised 5 million dollars (Rs33. 59 crores) in the second leg of its series B round from Bertelsmann India Investments (BII). The company runs the fashion discovery app Roposo. The funds will be used to strengthen its technology backbone, expand its team, bolster the product and enhance its user community.

In the first part of funding Roposo had raised 15 million (Rs 100 crores) from existing investor Tiger Global Management in 2015. After this fresh round of funding, the company has raised a total of 21 million dollars (Rs 140 crores). BII is a strategic investment arm of Gutersloh (Germany) headquartered mass media corporation Bertelsmann SE & Co. KGaA. It focuses on early stage as well as growth stage investments in digital, education, media and services sector in India.

Roposo was founded in 2014 by IIT Delhi alumni Mayank Bhangadia, Avinash Saxena and Kaushal Shubhank. It is a fashion social network that offers curated fashion choices across categories such as apparels, footwear, accessories and lingerie from over 500 web stores and 5000 brands. It is a mobile-only platform and has more than 2 million active users on its platforms. Pankaj Makkar, Managing Director, BII sees a lot of potential in Roposo as a social network and business model.