India’s fast-growing D2C fashion brand, Snitch, is making headlines once again. The company is raising a total of ₹278.93 Crore (around $33 Million) in a fresh Series B funding round led by 360 Asset Management Fund, along with participation from existing investors IvyCap Ventures and SWC Global. This major investment will help Snitch expand its product lines, grow offline retail stores, and explore global markets like the Middle East.
According to documents filed with the Ministry of Corporate Affairs (MCA) and reviewed by Inc42, Snitch’s board approved a special resolution on May 27, 2025. This resolution was for the allotment of 1,755 Series B compulsory convertible preference shares (CCPS) at a face value of ₹10, with a premium of ₹15.89 Lakh per share on a preferential basis.
The major chunk of the funding, ₹220.12 Cr, is coming from 360 Asset Management Fund, while IvyCap Ventures and SWC Global will each contribute ₹29.40 Cr. This shows that existing investors still believe in Snitch’s growth potential and future roadmap.
Although the full details of the funding round remain undisclosed, Snitch’s founder and CEO, Siddharth Dungarwal, confirmed to Inc42 that this is part of a larger funding round. The news was first reported by Entrackr, another startup-focused media outlet.
This fresh round of capital comes at a crucial time for Bengaluru-based Snitch, as the brand plans to broaden its product portfolio and enter new fashion categories. These include pluswear, bags, footwear, and sunglasses—all targeted for launch in the current financial year.
Snitch is not just limiting its growth to product lines. The company has also announced plans to open 50 new offline stores in the next five months, aiming to increase its brick-and-mortar presence significantly. Currently, Snitch operates 51 retail stores across India, and about 40–45% of its total revenue comes from these physical outlets.
Founded in 2019 by Siddharth Dungarwal, Snitch originally started as a physical retail brand in the apparel sector. However, during the COVID-19 pandemic, the startup had to pivot to an online-first model. Since then, the company has rapidly scaled through a mix of its own e-commerce website, offline stores, and partnerships with major online marketplaces.
The product range offered by Snitch includes shirts, jackets, hoodies, co-ords, sweaters, and innerwear. The brand has gained popularity for its modern designs, affordable pricing, and youth-oriented fashion sense, making it one of the most promising fashion startups in India.
In terms of fundraising history, Snitch has now raised a total of $13.4 Million in capital. The previous round in 2023 brought in ₹110 Cr, co-led by SWC Global and IvyCap Ventures. The strong backing from investors over multiple rounds reflects the company’s consistent performance and scalable business model.
On the financial front, Snitch has shown remarkable growth. In FY2023-24, the company’s operating revenue grew by a massive 127.89%, reaching ₹243 Cr, compared to ₹106.6 Cr the previous year. At the same time, net profit also increased by 1.3 times, from ₹3.1 Cr in FY23 to ₹4.4 Cr in FY24.
Founder Siddharth Dungarwal also shared some insights into the current financial year. According to him, Snitch is expected to post an unaudited operating revenue of ₹520 Cr in FY25. This strong revenue figure sets the tone for the brand’s ambitious target of hitting ₹1,000 Cr in top-line revenue by FY26.
More importantly, Dungarwal added that Snitch will consider launching an Initial Public Offering (IPO) once the company achieves a net profit (bottom line) of ₹100 Cr. This shows a clear roadmap towards becoming a publicly listed company, which would be a big milestone for any Indian startup in the fashion space.
Besides India, Snitch is also looking to test international waters. The company has plans to pilot operations in the Middle East, a region known for its fashion-conscious audience and high purchasing power. This move will not only boost Snitch’s brand visibility but also help in establishing a global footprint.
The decision to go international and increase offline presence shows that Snitch is betting big on omnichannel retail, where both online and offline sales play an equal role in revenue generation. This is in line with current retail trends, where customers expect both digital convenience and in-store experience.
The D2C fashion space in India is becoming increasingly competitive, with players like Bewakoof, The Souled Store, XYXX, and Rare Rabbit also vying for customer attention. However, Snitch’s ability to scale quickly, coupled with strong unit economics, gives it a unique advantage.
With this fresh funding, Snitch is now in a stronger position to execute its vision of becoming a leading fashion powerhouse in India and abroad. The company’s focus on new product categories, store expansion, and international markets shows that it’s not just growing, but scaling strategically.
Snitch’s latest fundraising round led by 360 Asset Management Fund and supported by IvyCap Ventures and SWC Global, is a major boost for the company’s future plans. With strong financials, a clear expansion strategy, and a dedicated leadership team, Snitch is well on its way to becoming one of India’s biggest D2C fashion brands in the coming years.
