The fashion e-commerce portal Fynd has raised $500K in Series A funding round from seed investment and innovation platform Venture Catalysts and others. Venture Catalysts says in a statement that the potential in Fynd led them to invest in the venture.
The funding round also witnessed participation from various industry leaders. The value proposition of the venture includes sourcing products from various brand outlets nearest to the customer.
Speaking on the investment, Dr. Apporv Ranjan Sharma, co-founder of Venture Catalysts said, “The platform has performed splendidly in terms of product fulfillment and maintained seamless customer experience through unsurpassed quality and an array of brands. These factors have converted its buyers into loyal patrons,”
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The funds will be leveraged upon enhancing customer experience, consumer offerings as well as brand strategies. Dr. Sharma adds, “Venture Catalysts will provide Fynd with best-in-class mentorship to eliminate operational bottlenecks, accelerate its growth rate, and achieve sustained success.”
Harsh Shah, co-founder of Fynd, commented on the recent fundraiser, “Early last year, we completed the preliminary testing of our business model and were scaling up our business from Mumbai to a pan-India presence. At that time we realized the need of expertise from industry majors who can actually guide us in building our product and also give us better industry exposure along with continuous feedback on our efforts,”
Anand Chandrasekaran, Facebook executive, and former Chief Product Officer at Snapdeal, Rajiv Mehta, CEO of Arvind Sports, and Ramakant Sharma, Co-founder of Livspace and former VP of Myntra also showed interest in the venture and has successfully invested in the firm earlier.