“We are techies and selling doesn’t come naturally to us. We believe that data and our work should speak for itself. Unfortunately everything cannot be built overnight and as founders we need to articulate what the future holds to the world before it has happened. This is why it is called a pitch.”
Farooq Adam, the co-founder of O2O fashion platform Fynd suggested this definition when he first published company’s funding pitch deck in May 2016.
As Fynd gets added to the portfolio of Google-backed startups with its Series C round of funding, the founders have again reiterated their commitment and shared the latest pitch deck that made the global search giant invest in it.
As Harsh mentioned in his latest blog post, “This round was different and unique to us because of the type of investor that we are raising from.”
As Inc42 reported earlier, apart from Google, Fynd’s existing investors including Kae Capital, IIFL, Singularity Ventures, GrowX, Tracxn Labs, Venture Catalyst, Patni family office and HongKong based Axis Capital among other angel investors also participated in the Series C funding round.
Series C Pitch Deck: What You Can Learn From Fynd Here?
Fynd investor group for raising Series C funding included three types of institutional equity capital:
- Traditional VC/PE Funds
- Corporate Venture Funds
- Corporate Investment
“Among these structures, each of them have very different and distinct approaches, thesis and outcome expectations from an investment. Understanding the drivers of the above is key to communicating the story of your company — past, present and future. You will see this difference in approach when you compare our Series C pitch deck for a Corporate Investment with our previous one for Traditional VC/PE funds here,” added Harsh.
Here is the latest pitch deck for your reference:Fynd Pitch _ Series C _ Open.compressed
As an early stage or growth stage startup, the deck offers majorly three learnings:
It’s Your Vision Which Will Inspire An Investor To Look Into Your Ideas
As they say, the first impression is your last impression. Similarly, the first few slides of any presentation have the power to cut-down any of your arch rivals. In case of Fynd, the first slide showcases in broad terms, “Building India’s Largest Fashion Retailer”. When you have unicorns like Flipkart, Shopclues in play; when every other day you find the startups like Koovs, Limeroad, and more cropping up, targeting several niche segments within the larger fashion segment – it’s only the strength of your vision which will work for bringing the ball to your court.
Your Team is Your Crown, Wear it With Proud
The second slide in Fynd’s presentation represents its team. The success of a company is nothing but the reflection of its team strength to execute the plans effectively in order to achieve the desired targets. The slide shares the same in a one-liner.
“Execution focused team with extensive experience in data, internet, and consulting.”
“Customer is The King”, So Find Your Fit There As Well
A startup is always recommended to find its perfect product-market fit. While in a B2B business model, it’s easier to increase your reach to potential clients, in a customer-centric business model, the difficulty increases due to the widely spread target market. Further, in the domain such as ‘fashion’, where a consumer choice changes every few seconds, it becomes necessary to build a strong ‘brand recall’ for yourself. Fynd has found its brand recall value in efficient and fast deliveries.
As the pitch mentions, “In a study covering 300+ customers, 83% said the most important reason for shopping with Fynd was fast delivery.”
Fynd: Betting High On Its Tech Stack And Investor’s Trust
As Sailesh Ramakrishnan, Partner, Rocketship shared in an earlier media interaction, “Through its technology and constant innovations, Fynd has tremendous potential in the Indian market. With a further infusion of funds, Fynd is sure to disrupt the fashion ecommerce space.”
Fynd, since its launch in 2012 has come a long way leveraging its tech-first platform and store-driven commerce approach without any inventory. The startup is further betting on its inclination towards technology.
For instance, in May 2016, Fynd launched Fify– a fashion shopping “botfriend,” which is a conversational commerce bot for discovery and transactions. Following that, in December 2016, it also launched a new feature called ‘Fynd Store’, that aimed to provide retailers with an opportunity to increase sales through omni-channel user-engagement.
With more than 8K outlets onboard, the O2O fashion ecommerce startup has been working essentially to enable customers to discover fashion in real-time and know the exact specifications of the products available. The Indian online fashion market is pegged at $20 Bn (as suggested in the Fynd’s pitch deck). However, only a few players like Jabong, Myntra, Limeroad, Koovs among others are actually making a mark. In such scenario, despite crossing over five years of glorious success, the opportunity is still ripe for Fynd in the Indian online fashion market.