Mumbai-based O2O fashion ecommerce platform Fynd has raised $2.4 Mn in a funding round led by IIFL Seed Ventures.
The round was an extension of the Series A round and also saw participation from Kae Capital, FJ Labs, Singularity Ventures, GrowX, Tracxn Labs, and Hong Kong-based Axis Capital. The current funding leads to the close of Series A funding at $3.4 Mn.
Commenting on the funding, Fynd co-founder, Harsh Shah said, “Fynd is growing steadily and has managed to seal some exciting partnerships in the past few months. Our vision is to revolutionise the online and offline shopping experience across all channels and customer touch-points and reach out to more customers in the coming months.”
The ecommerce portal functions on an O2O model and directly sources products across various categories – including clothing, footwear, jewellery, and accessories – from prominent brands in the country. The startup optimises delivery time by sourcing products from the outlets nearest to the customer.
The startup will leverage the newly raised capital to accelerate growth. Apart from this, the funds will be utilised to enhance consumer base, strengthen tech and to optimise its operations including marketing strategies, as per an official statement.