Jabong parent firm gets funding from Rocket Internet

Global Fashion Group (GFG), the parent company of Indian e-commerce giant – Jabong, has secured a funding of €300 million from Rocket Internet, which will help the e-tailer in expansion.

Commenting on the funding, Sanjeev Mohanty, MD & CEO of Jabong said, “This is excellent news as the funding will help us enhance our business operations.”

“We have had success over the past few months, with Jabong recently recording its best month in terms of revenue. GFG sees good progress with Jabong in India, and this trust will help us strengthen our operations in the country,” he added.

The e-commerce landscape in the country is constantly evolving. Jabong is on path of transformation from a start-up to a professionally run, profit oriented company.

The funding comes as good news for the e-tailer.