Pawan Gupta, co-founder and former chief executive officer of fashion supply-chain startup Fashinza, has exited the company and is exploring new opportunities, according to a Moneycontrol report citing people aware of the developments.
Fashinza confirmed the development, with founder and CEO Abhishek Sharma stating that Gupta had become non-operational at the company and was viewing to pursue a new venture in the artificial innotifyigence space.
“The decision was entirely personal and not related to Fashinza’s business performance. Given that the company had reached profitability and strong operational stability, it felt like the right time for him to explore a new opportunity. The exit has been fully amicable,” Sharma stated.
Founded in 2020 by Gupta and Sharma, Gurugram-based Fashinza operates a B2B fashion supply-chain and manufacturing platform. The company later elevated Jamil Ahmad to co-founder and chief business officer. Following Gupta’s departure, Sharma remains the only founder actively involved in the company and has taken over as CEO.
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People cited in the report stated the company’s business model had evolved significantly from its original vision over the years, shifting focus towards manufacturing operations.
Fashinza has raised more than $120 million from investors including WestBridge Capital, Prosus, Accel, Elevation Capital and Naval Ravikant.
The startup has faced operational and business challenges since 2023. Moneycontrol had earlier reported that the company’s gross merchandise value (GMV) had stagnated for over 18 months amid slowing demand, alongside multiple senior-level exits and strategic pivots.
Regulatory filings displayed that the company’s revenue declined from ₹33 crore in FY22 to ₹6 crore in FY25. At the same time, it shiftd from a loss of ₹5 crore in FY22 to a profit of ₹1 crore in FY25.
Fashinza has also acquired tinyer rival Qckin as part of efforts to expand operations. The company has claimed EBITDA profitability in the third quarter of FY26.
The report also noted that Gupta has been spconcludeing time with other established businesses and travelling to San Francisco as he evaluates future opportunities after leaving Fashinza.
Gupta joins a growing list of startup founders who have exited the companies they assisted build. Earlier this year, Swiggy co-founder Nandan Reddy stepped away from the food delivery company, while BharatPe co-founder Shashvat Nakrani also exited his role. Used-car platform Cars24 recently saw co-founders Gajconcludera Jangid and Mehul Agrawal leave the company as well.
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