Vancouver travel lifestyle brand Monos has raised a USD $30 million round led by venn growth partners with participation from Strand Equity and Michele Romanow.
The oversubscribed Series B funding round comes after Monos achieved 4x growth in 2021, with a further 4x growth forecast in 2022.
Earlier this year Monos raised a $10 million Series A round led by venn growth partners with significant participation by Strand Equity.
“Despite launching just before the travel industry was hit with unprecedented uncertainty, Monos thrived as aspiring travelers connected with our brand online,” said Victor Tam, CEO and Co-founder (pictured).
“Quality and sustainability are at the heart of everything we do. It’s what sets Monos apart and our growth over the past three years has positioned us well to capitalize on the explosion in travel now seen globally. Given our product differentiator and ability to reach our customers, we expect that Monos will continue to grow with the ability to be opportunistic about when we take on capital and from who.”
The new capital will be invested into inventory to keep up with significant consumer demand, new product development, recruiting additional talent and expanding beyond existing channels.
Monos is also welcoming former Samsonite, Louis Vuitton, and Pandora CEO Marcello Bottoli to its Board of Directors. Bottoli brings decades of experience in fashion lifestyle brands and was a key investor and leader in the transformation of Samsonite.
“I am thrilled to be joining the Board of Directors at Monos to work closely with the Company through its next phase of growth. Relative to other competing brands, Monos is a uniquely distinctive fashion lifestyle brand with significant upside potential in North America and international markets,” said Bottoli.