Snitch To Raise INR 280 Cr From 360 Asset Management Fund marks a significant milestone for the Bengaluru-based D2C menswear brand. This article dives into Snitch’s latest funding round, led by 360 Asset Management Fund with participation from SWC Global and IvyCap Ventures. We’ll explore how Snitch plans to utilize the INR 278.93 Cr to fuel its expansion, enhance product offerings, and strengthen its omnichannel presence. From its financial growth to its ambitious offline and global expansion plans, this piece covers Snitch’s journey and what this funding means for its future in the competitive D2C fashion market. Stay tuned for insights into how Snitch is redefining fast fashion for men in India and beyond.
Table of Contents
Introduction: Snitch’s Big Leap Forward
Snitch, a Bengaluru-based D2C menswear brand, is making waves in the Indian startup ecosystem with its latest funding milestone. Snitch To Raise INR 280 Cr From 360 Asset Management Fund, along with existing investors SWC Global and IvyCap Ventures, is a game-changer for the fast-fashion brand. This INR 278.93 Cr ($33 Mn) funding round, announced on May 29, 2025, positions Snitch to accelerate its growth, expand its offline presence, and explore global markets. At Startup INIDAX, we’re excited to break down what this funding means for Snitch and how it’s poised to redefine men’s fashion in India and beyond.
The D2C fashion space is booming, and Snitch is riding this wave with its trendy, affordable, and high-quality apparel. From its humble beginnings to becoming a household name, Snitch’s story is one of resilience and innovation. Let’s dive into the details of this funding, its implications, and what’s next for this rising star.
Snitch To Raise INR 280 Cr From 360 Asset Management Fund: The Details
According to regulatory filings, Snitch’s board has approved the issuance of 1,755 Series B compulsorily convertible preference shares (CCPS) at a premium of INR 15.89 Lakh each, raising a total of INR 278.93 Cr. Leading the round is 360 Asset Management Fund, which is infusing INR 220.12 Cr, while SWC Global and IvyCap Ventures are contributing INR 29.40 Cr each. This funding round values Snitch at approximately INR 2,400-2,500 Cr ($294 Mn), a nearly 5X jump from its previous valuation of INR 500 Cr in its Series A round in December 2023.
This significant capital injection comes at a time when Snitch is scaling rapidly. The brand’s founder and CEO, Siddharth Dungarwal, shared with Startup INIDAX that this funding is part of a larger round aimed at fueling Snitch’s ambitious growth plans. The involvement of prominent investors like 360 Asset Management Fund underscores the confidence in Snitch’s business model and its potential to dominate the D2C menswear market.
Why This Funding Matters for Snitch
The INR 280 Cr funding round is a testament to Snitch’s strong market presence and investor confidence in its vision. The D2C fashion industry in India is projected to reach a $100 Bn market opportunity by 2025, with apparel and footwear accounting for nearly 77.6% of the online clothing market. Snitch’s ability to secure such a substantial investment highlights its position as a leader in this space.
At Startup INIDAX, we see this funding as a pivotal moment for Snitch. It not only provides the financial muscle to scale operations but also validates the brand’s omnichannel strategy, which blends online sales with a growing offline presence. The funds will be used to enhance product offerings, expand offline stores, and explore international markets, particularly in the Middle East. This strategic move aligns with the growing demand for fast fashion and the increasing digital adoption among Indian consumers.
Snitch’s Journey: From B2B to D2C Powerhouse
Founded in 2019 by Siddharth Dungarwal, Snitch began as a B2B apparel brand but pivoted to a D2C model during the COVID-19 pandemic. The shift was driven by necessity, as physical retail stores shut down, leaving Snitch with excess inventory. Instead of relying solely on marketplaces, Snitch launched its own website and mobile app, a decision that proved transformative. Today, Snitch sells a wide range of menswear, including shirts, jackets, hoodies, co-ords, sweaters, and innerwear, through its website, app, and major e-commerce platforms like Amazon and Flipkart.
Snitch’s appearance on Shark Tank India in 2023 was a turning point, securing INR 1.5 Cr for 1.5% equity from all sharks at a INR 100 Cr valuation. This exposure, coupled with its focus on trendy, affordable designs, helped Snitch build a loyal customer base. By December 2022, the brand had fulfilled over 10 Lakh orders and boasted 2.4K SKUs, serving more than 8 Lakh customers.
Financial Growth and Market Impact
Snitch’s financial performance is equally impressive. In FY24, the brand reported an operating revenue of INR 243 Cr, a 127.89% increase from INR 106.6 Cr in FY23. Its net profit also jumped 1.3X to INR 4.4 Cr from INR 3.1 Cr in the previous fiscal year. According to unaudited numbers shared by Dungarwal, Snitch achieved an operating revenue of INR 520 Cr in FY25, showcasing its rapid growth trajectory.
This financial success is driven by Snitch’s ability to tap into the fast-fashion trend, offering daily new designs inspired by global fashion trends. The brand’s in-house manufacturing unit in Bengaluru ensures quality control and quick turnaround times, allowing Snitch to stay ahead of competitors like XYXX, DaMENSCH, and Bombay Shirt Company. At Startup INIDAX, we believe Snitch’s focus on affordability and style is resonating with India’s fashion-forward male demographic, driving its market impact.
Expansion Plans: Offline Stores and Global Markets
With the INR 280 Cr funding, Snitch is set to accelerate its omnichannel strategy. The brand currently operates 58 offline stores across major cities like Bengaluru, Mumbai, Delhi, and Gujarat. It plans to open 50 new stores in the next five months and aims to have over 100 stores by 2028. In January 2025, Snitch announced plans to open 10 new stores, including three in Bengaluru and one each in Delhi, Chennai, and other cities.
Beyond India, Snitch is eyeing global markets, starting with a pilot in the Middle East. This move aligns with the growing global demand for fast fashion and India’s increasing influence in the international apparel market. The brand also plans to expand its product portfolio, venturing into plus-size clothing, bags, footwear, and sunglasses in FY26. These ambitious plans position Snitch as a key player in the global D2C fashion space.
The Role of 360 Asset Management Fund and Other Investors
360 Asset Management Fund, formerly IIFL Wealth & Asset Management, is leading this funding round with a significant INR 220.12 Cr investment, securing a 9.67% stake in Snitch. The fund’s involvement is notable, given its recent launch of an INR 500 Cr early-stage venture capital fund, which has already backed startups in gaming, SaaS, and spacetech.
Existing investors SWC Global and IvyCap Ventures, who co-led Snitch’s INR 110 Cr Series A round in December 2023, continue to show confidence in the brand. IvyCap Ventures holds a 10.39% stake, while SWC Global owns 10.17%. Their continued support highlights Snitch’s strong fundamentals and growth potential. At Startup INIDAX, we see this investor lineup as a vote of confidence in Snitch’s ability to scale and innovate.
What’s Next for Snitch and the D2C Fashion Industry?
The D2C fashion industry is at a pivotal moment, with brands like Snitch leading the charge. The sector is expected to grow to $300 Bn by 2030, driven by robust consumer demand and digital adoption. Snitch’s focus on sustainability, such as using corn husk packaging and recycled materials, also aligns with emerging trends in the industry.
Looking ahead, Snitch aims to double its revenue in FY26 and continue its offline expansion while strengthening its digital presence. The brand’s ability to combine affordability, quality, and trend-driven designs positions it to compete with global giants like H&M and Zudio. For Startup INIDAX readers, Snitch’s story is a reminder of the power of adaptability and innovation in the fast-paced world of D2C fashion.
Conclusion:
Snitch’s Bright Future in Fast Fashion Snitch To Raise INR 280 Cr From 360 Asset Management Fund is more than just a funding milestone—it’s a signal of the brand’s ambitious vision to redefine men’s fashion. With a robust financial track record, a growing offline presence, and plans for global expansion, Snitch is well on its way to becoming a household name. The support of investors like 360 Asset Management Fund, SWC Global, and IvyCap Ventures underscores the brand’s potential to lead the D2C fashion space. At Startup INIDAX, we’re excited to watch Snitch’s journey unfold as it continues to dress the modern man with style and affordability.
