Roll-up ecommerce firm Brnd.me (formerly Mensa Brands) has completed a cross-border composite merger shifting its domicile from Singapore to India, as it prepares for a public listing over the next 12-18 months.
The restructuring, cleared by the National Company Law Tribunal (NCLT) on February 20 after approval from the High Court of the Republic of Singapore, involved the merger of the Singapore entity with the Indian holding company (Mensa India), followed by the consolidation of seven domestic group entities into the Indian holding firm, the company said in a statement on Thursday
Brnd.me joins a growing list of startups reversing their offshore holding structures for domestic listing as local capital markets deepen and regulatory clarity improves. Other companies that have reverse flipped their domicile to India include fintech firms Razorpay, PhonePe, Groww, and quick commerce firm Zepto.
With the consolidation, Brnd.me will operate under a single Indian holding structure, which the company said will enable greater strategic alignment, operational agility, and governance clarity across its portfolio, it said.
“We’ve not just moved our domicile but also executed a fairly complex cross-border merger across Singapore and India in under 10 months… This sets us up with a much stronger foundation as we look to the next phase of growth, including our path to becoming a public company,” said founder Ananth Narayanan.
Narayanan is the former chief executive of online fashion retailer Myntra, which is owned by Walmart.
According to the company, it reported revenues of about Rs 1,500 crore in FY25 and has turned operating cash-flow positive in FY26.
Founded in 2021 as Mensa Brands, the company aggregates and scales digital-first consumer brands across health, wellness, and lifestyle categories. Its portfolio includes beauty and personal care brand Majestic Pure, personal care brand Botanic Hearth, peanut butter brand MyFitness, and party products brand PartyPropz, each with annual revenues ranging from Rs 200-400 crore.
International markets remain a key growth driver, with the company operating in more than 16 countries, including the United States, Canada, and the Middle East. It has recently expanded into Europe and is evaluating southeast Asia next.
Roll-up ecommerce firms modelled on the US-based Thrasio have faced significant challenges globally and in India, as aggressive acquisition strategies often led to flawed brand selection, over-reliance on leverage, and difficulties in driving organic growth.
Brnd.me is backed by investors such as Accel, Norwest Venture Partners, Alpha Wave Global, and Prosus.
Source: Economic Times