Fynd Bags Google’s Second Investment in India
Company top officials said that the current round of funding would be utilized for improving engagement between retailers and consumers.
Fynd, India's largest O2O (Offline-to-online) e-commerce platform, raised an undisclosed amount of funding in its Series C round led by Google and other existing investors including IIFL, Kae Capital, Singularity Ventures, GrowX, Tracxn Labs, Venture Catalyst, Patni family office and Hong Kong-based Axis Capital among other angel investors.
Company top officials said that the current round of funding would be utilized for improving engagement between retailers and consumers. Before this round, Fynd had raised $3.4 mn in Series A from investor groups led by IIFL. The fund, so mobilized, was so far used to reach out to more than 20 mn customers and also to increase inventory to include more than 15 lakh products. Harsh Shah, Co-founder and also an active investor, said that it is now powering more than 8500 brand stores across the country with a real-time inventory of over 800K products making it the largest marketplace in terms of real-time store inventory.
Fynd is a unique fashion e-commerce portal, which brings the latest in-store fashion online. Floated by Farooq Adam, Sreeraman MG, besides Harsh Shah, the Mumbai-headquartered firm was incepted in 2012 as Shopsense Retail Technology Pvt. Ltd. However, in November 2015 the company pivoted to Fynd, a unique fashion e-commerce portal offering fresh fashion to customers much ahead of any other e-commerce player. Its capability of sourcing its products across various fashion categories directly from most prominent brands' stores of the country, enables it to develop this edge over any other e-commerce marketplace. Often billed as the offline to online (O2O) company, it channelizes its combined outreach to offer the best brands and fashion along with superior customer services to its ever-growing clientele.
Fynd is currently the unrivaled company in the world to carry out store-level integrations on this scale. Its unique propriety inventory integrations enable customers to discover fashion in real-time and know the exact specifications of the products available. Fynd aims at helping retail brands generate more sales. And with this in view, Fynd has introduced a number of effective technology solutions that enable retail stores to look beyond their offline territory and venture into online sales, including the online portal gofynd.com.