Siddharth Dungarwal founded SNITCH in 2019, transforming a B2B apparel business into one of India's fastest-growing men's fast-fashion brands.
Siddharth Dungarwal transformed SNITCH from a B2B apparel business into one of India’s fastest-growing D2C men’s fashion brands through rapid product innovation and vertical integration.
Written by TFN Research Desk | covering startups, technology, venture capital, and business strategy.
Table of Contents
- Who is Siddharth Dungarwal?
- Early Life and Education
- Career Before SNITCH
- How SNITCH Started
- Funding History
- Revenue Growth and Recent Challenges
- Public Recognition
- SNITCH vs Competitors
- Investor Perspective
- Founder Timeline
- Key Takeaways
- FAQs
- Sources
Who is Siddharth Dungarwal?
Siddharth Dungarwal is the founder and CEO of SNITCH, the men’s fast-fashion brand he built from a B2B apparel sourcing business into a D2C label now valued at roughly Rs 2,500 crore. He started his first retail venture at 17 or 18, and reports on his exact birth year and hometown vary across sources, though his decade in textile manufacturing before SNITCH is consistently documented.
Early Life and Education
Public details on Dungarwal’s early life are sparse and somewhat inconsistent across sources; his birth year is variously reported as 1987 and 1993, and his birthplace as either Kolar Gold Fields, Karnataka, or Rajasthan. He came from a middle-class family involved in jewellery retail and completed a Bachelor of Commerce degree, with sources citing both Bhagwan Mahavir Jain College and St Joseph’s Institute of Management in Bengaluru. Not publicly disclosed is further detail on his schooling.
Career Before SNITCH
At around 17 or 18, Dungarwal opened a 400-square-foot retail store called 4EVER in Bengaluru’s Frazer Town. That retail experience pulled him into B2B apparel trading, and in 2012 a fabric deal gone wrong, when a buyer backed out after a shipment delay, forced him to convert surplus fabric into shirts himself. Those shirts sold out with a Mumbai retailer, teaching him that manufacturing, not just trading, was the bigger opportunity. From 2012 to 2019 he ran a buying house, producing apparel for other brands and building the supply chain expertise that later underpinned SNITCH.
How SNITCH Started
Dungarwal launched SNITCH in January 2019 as a B2B brand, building a simple ordering app that let retailers order as few as 25 pieces daily with cash on delivery. When the pandemic shut down offline retail in March 2020, he pivoted to direct-to-consumer, launching snitch.co.in on 4 July 2020 with just four team members and around 35-40 products. The site made its first sale within an hour of going live, and within ten months was averaging 900 orders a day with 35% repeat customers, an early proof point that a trend-driven, frequently refreshed catalogue could work for Indian menswear the way Zara had for global fast fashion.
Funding History
| Round | Year | Amount | Lead Investor(s) |
| Shark Tank India | 2021/22 | Rs 1.5 crore | All five sharks, at a Rs 100 crore valuation |
| Series A | Dec 2023 | $13 million | SWC Global, IvyCap Ventures |
| Series B | May 2025 | Rs 278.9 crore (~$33M) | 360 One Asset Management, with SWC Global, IvyCap Ventures |
SNITCH’s Series B valued the company at roughly Rs 2,400-2,500 crore, nearly a fivefold jump from its previous round, per Entrackr. The company has not disclosed a single cumulative funding total, but its major rounds since 2021 total well over Rs 400 crore.
Revenue Growth and Recent Challenges
| Fiscal Year | Revenue | Net Profit |
| FY22 | Rs 44 crore | Not publicly disclosed |
| FY24 | Rs 241-243 crore | Rs 4.39 crore |
| FY25 | ~Rs 530-600 crore (est.) | Profit grew ~5x YoY |
Why this happened: Revenue doubled year-on-year through FY24 as SNITCH scaled its own app and website beyond marketplaces like Myntra and Ajio, with the app alone contributing around 70% of revenue by some accounts. FY25 growth accelerated further, roughly 2.2x per Dungarwal’s own disclosure, as offline expansion, with plans for 100 stores by end-2025, began contributing close to a third of overall sales alongside continued online momentum.
Public Recognition
Dungarwal was named to BusinessWorld’s 40 Under 40 list in 2022 and gained national visibility after SNITCH’s 2021/22 Shark Tank India appearance, where all five investors backed the brand. SNITCH was also recognised as an “Atmanirbhar Company” by the Indian Achievers’ Forum.
SNITCH vs Competitors
| Brand | Founded | Latest Revenue | Positioning |
| SNITCH | 2019 | ~Rs 530-600 crore (FY25 est.) | Fast-fashion menswear, app-first D2C with growing offline retail |
| The Souled Store | 2013 | Not publicly disclosed | Licensed pop-culture and casual apparel, profitable since FY24 |
| Bewakoof | 2012 | Not publicly disclosed | Youth-focused casual wear and graphic apparel |
SNITCH has scaled faster on revenue growth than most menswear D2C peers, though rivals like The Souled Store reached profitability earlier, putting pressure on Dungarwal’s own IPO timeline.
Investor Perspective
Dungarwal’s decade running a buying house gave him supply chain and manufacturing expertise most D2C founders lack, letting SNITCH control costs and turnaround speed from day one. Strengths include a vertically integrated model, strong app-driven repeat purchase rates, and rapid offline expansion. Risks include intensifying competition in a crowded D2C fashion category and the execution challenge of scaling physical retail while maintaining fast-fashion turnaround. If FY26’s targeted Rs 1,000 crore revenue and continued profit growth materialise, SNITCH’s stated IPO ambition within three years becomes far more credible.
Founder Timeline
- 2005/2011 — Opens first retail store, 4EVER, in Bengaluru
- 2012 — Pivots into apparel manufacturing after a failed fabric deal
- 2012-2019 — Runs a B2B buying house for various brands
- 2019 — Launches SNITCH as a B2B brand
- 2020 — Pivots to D2C; launches snitch.co.in in July
- 2021/22 — Appears on Shark Tank India; raises Rs 1.5 crore at Rs 100 crore valuation
- 2023 — Opens first offline store in Bengaluru; raises $13M Series A
- 2025 — Raises Rs 278.9 crore Series B at ~Rs 2,500 crore valuation
Key Takeaways
- A failed fabric trade in 2012 accidentally pushed Dungarwal into manufacturing, the skill that later became SNITCH’s core advantage.
- Pivoting to D2C during the pandemic, out of necessity rather than strategy, became the company’s defining growth decision.
- Vertical integration from sourcing to design let SNITCH move faster than many funded D2C peers.
- Shark Tank India provided outsized brand trust relative to the small equity given up.
- Offline expansion alongside app-driven online sales is now central to SNITCH’s path toward its stated IPO ambitions.
FAQs
Who founded SNITCH?
Siddharth Dungarwal, launching it as a B2B brand in 2019 before pivoting to D2C in 2020.
How much funding has SNITCH raised?
A Rs 1.5 crore Shark Tank India deal, a $13 million Series A in 2023, and a Rs 278.9 crore Series B in 2025 at a ~Rs 2,500 crore valuation.
Is SNITCH profitable?
Yes, it posted a Rs 4.39 crore profit in FY24, with profit reported to grow roughly fivefold in FY25.
What is Siddharth Dungarwal’s net worth?
Estimated between Rs 80-100 crore as of 2025-26, based on his stake in SNITCH; no official disclosure exists.
Is SNITCH planning an IPO?
Yes, Dungarwal has said the company plans to go public within three years, once it reaches Rs 100 crore in net profit.
Sources
- Siddharth Dungarwal: Snitch Founder’s Net Worth & 5 Facts
- Origins of Snitch: The Founders and Founding Story Unveiled
- From A Small Shop To A ₹2500 Crore Fashion Empire: The Snitch Story
- Exclusive: Snitch to raise Rs 280 Cr in Series B round at Rs 2,500 Cr valuation — Entrackr
- Snitch Raises ₹340 Cr Funding, Valuation Jumps to ₹2,500 Crore — Outlook Business
© The Founder Nation | All rights reserved | Written by TFN Research Desk
