About Frate
Frate is a company based in Austin (United States) founded in 2022 by Bailey N and Yenn Lei was acquired by Route in January 2026.. Frate has raised $5.63 million across 2 funding rounds from investors including Route, 2048 Ventures and Matchstick Ventures. Frate offers products and services including Returns Portal, Fraud Prevention, and Smart Returns Routing. Frate operates in a competitive market with competitors including Happy Returns, Loop Returns, Airkit, Connectly and ReverseLogix, among others.
- Headquarter Austin, United States
- Founders Bailey N, Yenn Lei
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Sectors
TechnologyRetail Transportation, Automotive & Logistics
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Phone
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Website
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Social
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Products & Services of Frate
Frate offers a comprehensive portfolio of products and services, including Returns Portal, Fraud Prevention, and Smart Returns Routing. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Customizable platform for automating customer returns and exchanges
AI system to detect and prevent fraudulent return claims
Workflow tool for optimizing item destinations post-return
Funding Insights of Frate
Frate has successfully raised a total of $5.63M across 2 strategic funding rounds. The most recent funding activity was a Series A round of $4.19 million completed in September 2024. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 2
- Last Round Series A — $4.2M
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First Round
First Round
(15 Dec 2022)
- Investors Count 4
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Sep, 2024 | Amount | Series A - Frate | Valuation |
investors |
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| Dec, 2022 | Amount | Seed - Frate | Valuation | 2048 Ventures |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Frate
Frate has secured backing from 5 investors, including venture fund investors. Prominent investors backing the company include Route, 2048 Ventures and Matchstick Ventures. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Early-stage venture capital investments are provided by 2048 Ventures.
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Founded Year | Domain | Location | |
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Early-stage venture capital is provided to ambitious entrepreneurs.
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Founded Year | Domain | Location | |
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MergeLane is focused on investing in women-led startups and funds.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Frate
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - Frate
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Frate Comparisons
Competitors of Frate
Frate operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Happy Returns, Loop Returns, Airkit, Connectly and ReverseLogix, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Physical stores are operated for in-person returns of online purchases.
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| domain | founded_year | HQ Location |
Returns management solutions are offered for Shopify brands.
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| domain | founded_year | HQ Location |
AI-based customer support is delivered through multiple channels.
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| domain | founded_year | HQ Location |
Multi-category kids' products are retailed online by Connectly.
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| domain | founded_year | HQ Location |
Provider of SaaS-driven reverse logistics platform
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| domain | founded_year | HQ Location |
Customer engagement management solutions are provided for B2B organizations.
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| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Frequently Asked Questions about Frate
When was Frate founded?
Frate was founded in 2022.
Where is Frate located?
Frate is headquartered in Austin, United States. It is registered at Austin, Texas, United States.
Who is the current CEO of Frate?
Bailey N is the current CEO of Frate. They have also founded this company.
Is Frate a funded company?
Frate is a funded company, having raised a total of $5.63M across 2 funding rounds to date. The company's 1st funding round was a Seed of $1.45M, raised on Dec 15, 2022.
What does Frate do?
Frate was founded in 2022 in Austin, United States, as a platform focused on e-commerce returns management. Services include one-click exchanges, peer-to-peer return processes, and AI-powered virtual condition assessments to streamline operations for online retailers and customers. The company operates in the retail technology sector, addressing return logistics and inventory recovery within the United States market.
Who are the top competitors of Frate?
Frate's top competitors include Happy Returns, Loop Returns and Base.
What products or services does Frate offer?
Frate offers Returns Portal, Fraud Prevention, and Smart Returns Routing.
Who are Frate's investors?
Frate has 5 investors. Key investors include Route, 2048 Ventures, Matchstick Ventures, MergeLane, and Convoi Ventures.
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