Community group buying platform Frendy has raised Rs10 cr in Pre-Series A round from Pavitar Singh, Abhishek Khurana and the Desai family office. The firm is also in discussion to close its Series A round of Rs30 crore in the next few months.
Frendy is planning to utilize the funds primarily for growth, expanding its team and meeting working capital needs.
Launched in 2019 by Sameer Gandotra, Frendy is a social commerce startup that provides discounts on groceries and other essential items to lower tier towns through the neighborhood homepreneurs.
The Gujarat-based company is operational in more than 20 towns of Gujarat is growing at 30% month-on-month and plans to reach an ARR of Rs300 crore by the next financial year. The startup has scaled to 3,000 Frendy Partners and 3,000 products till date.