On May 2nd, 2022, social commerce company Frendy raised Rs 23 crore ($3 million) in a fundraising round headed by Marv Capital of Additional York and Centera Fund of the United Kingdom, with participation from current investor Desai Family Office and new investors via LetsVenture Angel Fund.

Shalabh Mehrish of Vinson Capital Advisors, Jon Piebenga, partner at Social Venture Partners, and Kunal Shah, founder of Cred, were among the notable angel investors who participated in the round.

According to the company, the money will be mainly used for growth, increasing the company’s personnel, and satisfying working capital requirements.

What the founder has to say:

Gandotra, Cofounder of Frendy:

“Entrepreneurial frugality, combined with local expertise and contacts, have been trademarks of successful rural distribution businesses, and Frendy has used this to develop fast and sustainably with a low capital requirement.”

Frendy’s Bharat-focused staff has prior expertise and success in creating a microentrepreneur business with a capital-efficient execution methodology, which sets it apart from other community group buying platforms.”

Sameer Gandotra Founder Frendy:

“Entrepreneurial frugality, combined with local expertise and contacts, has been the trademarks of successful rural distribution businesses, and Frendy has adopted the same to develop fast and sustainably with minimal capital.” Because of the preceding, the company achieved Product-Market Fit rapidly and generated US $43 million in revenue in its first year of operations with a minimal burn. “This is extremely impressive when compared to what other community group-buying companies have accomplished at a similar stage of development.”

About Frendy:

Frendy, which was started in 2019 by Sameer Gandotra and Gowrav Vishwakarma, has a staff of 100 people, including an in-house technical team. With over 4,500 products, the firm has a presence in about 25 tier 2-6 towns. With Madhya Pradesh, the corporation recently expanded into Rajasthan.

In Bharat, Frendy collaborates with local homepreneurs to create a “digital supermarket.” The Frendy approach is unique in that it integrates Social & Trust across the customer journey, which Bharat customers need.

Frendy emphasizes on women as consumers and community leaders, and she creates a community around them. The company is dedicated to providing a platform for a “Kaabil Beti” (Capable Daughter) to start a digital supermarket for her community, earn supplemental income, and gain recognition both within her family, community and among a group of like-minded Frendy Partners, thereby gaining financial independence and entrepreneurial confidence. Women make 90 percent of household purchase decisions, thus, Women Community Leaders make good economic sense.

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Kshitij does business research and content writing for VCBay. Pursuing BBA from Symbiosis Center Of Management Studies (SCMS) Pune, he is skilled in Financial Modeling, Stock valuation and Microsoft Excel. He is passionate about Entrepreneurship and Finance.

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