Singapore-based Believe Pte Ltd has raised $55 million in Series C funding from investors led by Venturi Partners and IIFL AMC.
Existing investors Jungle Ventures, Accel, Alteria Capital, and Genesis Alternative Ventures also participated in the round.
The company has raised over $80 million across three funding rounds.
Its Series A and Series B rounds were led by Accel and Jungle Ventures, with participation from Wamda Capital, a Middle East-based fund.
The fresh capital is expected to help the company consolidate its market share in Bangladesh and India via strategic acquisitions, and to deepen its reach in Gulf Cooperation Council nations and Southeast Asia through organic and inorganic growth.
Founded in 2019 by Ankit Mahajan, Believe is a house of brands that makes Halal-certified beauty and personal care products targeted at Muslims.
Halal-based products are devoid of alcohol and animal ingredients.
Believe owns brands such as Lafz, ZM, and Dr. Rhazes.
They are sold in over eight countries and are manufactured in countries such as South Korea, Italy, Spain, France, Germany, and the UAE.
The company has seen around 2.5x growth over the last year, Mahajan, who is also its chief executive, said.
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