Travel and lifestyle brand Monos raises $30m in Series B round

Venn Growth Partners led the round with participation from Strand Equity and Michele Romanow.

  • The capital will be invested into inventory to keep up with consumer demand, new product development, recruiting talent and expanding beyond existing channels
  • Monos is adding former Samsonite, Louis Vuitton and Pandora CEO Marcello Bottoli to its board
  • Venn Growth Partners invests in consumer, health care services, and education companies in North America

Monos, a Vancouver-based travel and sustainability-first lifestyle brand, has secured $30 million in Series B financing. Venn Growth Partners led the round with participation from Strand Equity and Michele Romanow.

The financing comes after Monos achieved 4x growth in 2021, with a further 4x growth forecast in 2022.

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.

“We believe Monos to be among Canada’s highest growth consumer companies, which is a credit to the company’s business strategy and leadership team,” said Cameron Pollard, founder and managing partner at Venn Growth Partners and Director at Monos, in a statement. “Despite varying global travel restrictions, turbulent global supply chains, and changes to iOS privacy settings that have challenged many online brands, Monos has experienced remarkable growth and profitability thanks to an exceptional product portfolio and best-in-class marketing expertise, led by CEO Victor Tam.”

Monos is also adding former Samsonite, Louis Vuitton, and Pandora CEO Marcello Bottoli to its board of directors. Marcello 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 around Samsonite and took it from near bankruptcy in 2003 to an eventual sale to CVC Capital Partners Group in 2007 in a deal valued at $1.7 billion.

Based in Toronto, Venn Growth is a growth equity firm that invests in consumer, health care services and education companies in North America.