Clensta, a personal care brand supported by Parineeti Chopra, has enlisted the services of JM Financial, a prominent investment banking firm in India, to support its expansion plans.

JM Financial will provide guidance on the brand's upcoming fundraising efforts.  

JM Financial has been associated with notable initial public offerings (IPOs) of modern companies like Nykaa, Mamaearth, IdeaForge, and Zaggle. 

The company in its statement said that it aims to leverage an omnichannel playbook offering an optimal category mix. The brand not only commands a strong online and offline presence in the Indian market but has also organically expanded internationally. 

“Our tie-up with JM Financial is part of a series of strategic decisions taken by us following Clensta’s association with actor Parineeti Chopra as an investor and hiring Ashish Mishra (ex-Mamaearth, VLCC)) as our co-founder and CBO. We hope to deepen and broaden our omni-channel distribution to include the retail, online, international, and alternate markets while securing large-ticket deals in the institutional and export segments. We are on the right trajectory and feel this is a good time to bring in a partner like JM Financial. With them coming in, we now look forward to focusing on building our business while continuing to grow under the leadership of Ashish” said Puneet Gupta, founder of Clensta. 

Earlier this year, Clensta had raised Rs 75 crore in a Pre-Series B funding round led by TradeCred and co-led by the Royal Family of the UAE and Parineeti Chopra, among other investors. Clensta grew 100 per cent in FY23 and is on track to grow 150 per cent in the next fiscal, the company claimed. 

Since its launch in 2016, the start-up has raised funding worth 100+ crores from marquee investors like TradeCred (invested in Furlenco, Bizongo, BatterySmart, etc), Royal Family of UAE, Parineeti Chopra and various other angel platforms, which is pumping back into the business to expand the inventory and customer base.