Singapore-based, beauty-focused social commerce startup Raena—which had raised $21 million in funding from investors including BEENEXT, Alpha JWC Ventures, and AC Ventures—has decided to fold up after six years of operations, a top executive confirmed to DealStreetAsia.
Sreejita Deb, Raena’s founder and CEO, cited shifting consumer demand, increasing competition, cash flow challenges, and an unsustainable business model as reasons for shutting down the company.
