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Canadian startups have seen significant growth during the pandemic as customers connect with travel needs online. He looks forward to future expansion with industry veteran leadership
Vancouver, BC, September 21, 2022 /PRNewswire/ — Monos, the travel and sustainability-first lifestyle brand providing exceptional access to high-quality travel goods, announced today that it has closed. 30 million dollars Series B investment led by Venn Growth Partners (“venn”) with Strand Equity and participation Michelle Romano. Series B funding round, almost oversubscribed. 40 million dollars In terms of investor interest, after Monos achieved 4x growth in 2021, it comes with an additional 4x growth forecast in 2022.
Even though it started before the travel industry was hit by unprecedented uncertainty, Monos has remained a sought-after traveler connected to our brand online. Victor there, CEO and Co-Founder. “Quality and sustainability are at the heart of everything we do. That’s what sets Monos apart, and our growth over the past three years has positioned us well to take advantage of the global travel explosion. Given our product diversity and our reach. Our customers, when and where we take capital, are fortunate. We expect the ability to be Monos to continue to grow.
The new capital will be invested into inventory to meet high consumer demand, new product development, hire additional talent and expand through existing channels.
“We believe Monos is one. Canada High growth consumer companies, thanks to the company’s business strategy and leadership team. Although various international travel restrictions, chaotic global supply chains and changes in iOS privacy settings have tested many online brands, Monos has achieved impressive growth and profitability, thanks to its unique product portfolio and best-in-class marketing expertise, led by its CEO. Victor there” he said Cameron PollardFounder + Managing Partner at venn Growth Partners and Director at Monos.
Monos is accepting ex-Samsonite. Louis Vuittonand CEO of Pandora Marcelo Bottoli To the Board of Directors. Marcelo brings decades of experience in fashion lifestyle brands and was a key investor and leader in the transformation of Samsonite. He, along with Ares Management, Bain Capital Partners and Teachers Private Capital, turned Samsonite around, took it out of bankruptcy in 2003, and eventually sold it to CVC Capital Partners Group in 2007 in a deal valued at Rs. 1.7 billion dollars.
“I am delighted to join the board of directors at Monos to work closely with the company in its next phase of growth. Compared to other competing brands, Monos is a unique fashion lifestyle brand, with North America and international markets,” Bottoli said.
“We are humbled to have someone of Marcelo’s experience and talent join our team. He will be an active, value-adding partner as we grow our product line, move into international markets, and expand our channel strategy. The board aligns with our strategy of adding top-level talent with strong value to a team that emphasizes culture.” it is” Chris ReynoldsFounder + Managing Partner at venn Growth Partners and Director at Monos.
For more information on Monos: https://monos.com/
About Monos
Monos is a Canadian travel and lifestyle brand that offers high-quality, beautifully designed luggage, bags and accessories, and inspires people to travel mindfully and in the present – to embrace the journey as much as the destination. Designed with thought in mind Canada With attention to detail, each Monos bag uses only the finest quality parts and materials sourced from around the world. Monos believes that in today’s mass-consumer society, many people want to have fewer but better things. With a ‘less is more’ design approach, Monos is on a mission to unite the simplicity envisioned with exceptional quality in a collection of premium travel accessories.
About VENN development partners
venn Growth Partners is a growth equity fund partnering with select consumer, healthcare services and education companies. North America With exceptional founding CEOs and a relentless focus on delivering industry-leading results to clients. Ven operates on the belief that a team of skilled people with unique backgrounds, shared values and the right motivations can deliver exceptional results. Wen built the team on this fundamental belief and carefully selected each team member to provide partnerships that help founding CEOs and their teams achieve high-speed profitable growth. Ven has successfully funded brands such as Higher Ground Education, Diggs Inc., California Cowboy and Rebelstork. For more information, please visit: https://venngp.com/
About STRAND EQUITY
Strand Equity a Angels-Established growth equity firm invests in emerging popular consumer brands and services. Strand is led by a team of experienced and successful investors and entrepreneurs. With a fixed capital base, Strand maintains a flexible approach to structuring and partnering, enabling dynamic entrepreneurs and management teams to accelerate growth and build sustainable businesses. Current and proven investments include Youth for People, Otley, Studio McGee, Real Good Foods, Buy Brands, Lab Betty, HUM Nutrition and Life Coco, among others. For more information, please visit: https://strandequity.com/
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