Fynd raises $3.4m in series A to accelerate growth

By

Maverick Martins

Published
Jun 21, 2017

Fashion e-commerce firm Fynd has closed its Series A round of funding at $3.4 million (around Rs 21 crore) with IIFL Seed Ventures contributing a major chunk with $2.4 million and intends to use the funds to accelerate growth.

Kae Capital, FJ Labs, Singularity Ventures, GrowX, Traxcn Labs and Hong Kong based Axis Capital also participated in the latest funding round, the company said in a statement.
 
Fynd will leverage the newly raised capital to accelerate growth. Apart from this, the funds will be utilised to improve its consumer base, strengthen technology and to optimise its operations including marketing strategies.

Fynd Co-founder, Harsh Shah said she is excited by the firm’s steady growth and feels that the capital raised will help bolster growth and enhance technology.

“Our vision is to revolutionise the online and offline (O2O) shopping experience across all channels and customer touch-points to reach out to more customers in the coming months”, said Shah.
 
The O2O platform directly sources products across various categories including clothing, footwear, jewellery and accessories, from the most prominent brands in the country and brings them online. Fynd’s integrated system also allows for speedy delivery within four to six hours, and a complete assurance of product quality.
 
Fynd was launched in 2012 as Shopsense Retail Technology Pvt. Ltd, by Farooq Adam, Harsh Shah, and Sreeraman MG.