About Frendy
Frendy is a company based in Ahmedabad (India) founded in 2019 by Rakesh Israni, Sameer Gandotra, Gowrav Vishwakarma, and Harshad Joshi. Frendy has raised $6.33 million across 4 funding rounds from investors including UC Inclusive Credit, LetsVenture and Desai Ventures. The company has 35 employees as of March 28, 2024. Frendy offers products and services including Frendy Marts, Private Label Products, and Digital Apps. Frendy operates in a competitive market with competitors including 1K, Vilcart, ShopX, eSamudaay and StoreKing, among others.
- Headquarter Ahmedabad, India
- Employees 35 as on 28 Mar, 2024
- Founders Rakesh Israni, Sameer Gandotra, Gowrav Vishwakarma, Harshad Joshi
- Stage Minicorn
-
Sectors
Retail
-
Email
***********
-
Phone
*********
-
Website
*********
-
Social
*********
- Legal Name Areli Commerce Private Limited
- Date of Incorporation 15 May, 2019
- Jurisdiction Ahmedabad, Gujarat, India
-
Annual Revenue
$9.93 M (USD)106.29as on Mar 31, 2023
-
Net Profit
-$1.28 M (USD)-109.93as on Mar 31, 2023
-
EBITDA
-$1.68 M (USD)-70.9as on Mar 31, 2023
-
Total Equity Funding
$6.33 M (USD)
in 4 rounds
-
Latest Funding Round
$239.31 K (USD), Debt – Conventional
Jul 16, 2024
-
Investors
UC Inclusive Credit
& 32 more
-
Employee Count
35
as on Mar 28, 2024
Unlock complete access to The Company Check
Get unrestricted viewing across everything we track — from companies and brands to investors, funding rounds, acquisitions, financials, and more.
- Unlimited viewing on all profiles Companies, investors, financials, funding, acquisitions & directors
- Full access to every database India & global coverage, advanced filters and rich profile details
- Always-on access from your team account Single premium plan for everything you see on the portal
Products & Services of Frendy
Frendy offers a comprehensive portfolio of products and services, including Frendy Marts, Private Label Products, and Digital Apps.
Digitized stores providing better shopping for rural consumers.
High-margin items for stores and micro kiranas.
Apps for supply and shopping in rural areas.
People of Frendy
Unlock access to complete
Leadership Team
1 people
NPD Team
1 people
COO Team
1 people
Sales and Marketing
1 people
Assistant Team
1 people
Unlock access to complete
Funding Insights of Frendy
Frendy has successfully raised a total of $6.33M across 4 strategic funding rounds. The most recent funding activity was a Debt – Conventional round of $239.31 thousand completed in July 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 4
- Last Round Debt – Conventional — $239,312
-
First Round
First Round
(02 Dec 2021)
- Investors Count 33
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2024 | Amount | Debt – Conventional - Frendy | Valuation |
investors |
|
| Nov, 2023 | Amount | Series A - Frendy | Valuation | Desai Ventures , Priya Joseph | |
| Apr, 2022 | Amount | Series A - Frendy | Valuation | MARV Capital |
Investors in Frendy
Frendy has secured backing from 33 investors, including venture fund, angel, and institutional investors. Prominent investors backing the company include UC Inclusive Credit, LetsVenture and Desai Ventures.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
|
Single family office of Dr. Mayur Desai
|
Founded Year | Domain | Location | |
|
Investments in multiple sectors are managed by AT Capital Group.
|
Founded Year | Domain | Location | |
|
Investment funding and strategic guidance are provided by Auxano.
|
Founded Year | Domain | Location |
Investments & Acquisitions by Frendy
Financial Statements - Frendy
Frendy Comparisons
Competitors of Frendy
Frendy 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 1K, Vilcart, ShopX, eSamudaay and StoreKing, among others.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Platform offering retail store aggregating solution for grocery stores
|
|
| domain | founded_year | HQ Location |
Tech-enabled logistics solutions are provided for rural retailers in India.
|
|
| domain | founded_year | HQ Location |
Provider of a cashback and rewards platform for local store purchases
|
|
| domain | founded_year | HQ Location |
Retail store aggregation solutions are provided for local businesses.
|
|
| domain | founded_year | HQ Location |
Online supermarket services are provided to small-town retailers.
|
Latest news on Frendy
Frequently Asked Questions about Frendy
Frendy was founded in 2019 and raised its 1st funding round 2 years after it was founded.
Frendy is headquartered in Ahmedabad, India. It is registered at Ahmedabad, Gujarat, India.
Sameer Gandotra is the current CEO of Frendy. They have also founded this company.
Frendy is a funded company, having raised a total of $6.33M across 4 funding rounds to date. The company's 1st funding round was a Series A of $3M, raised on Dec 02, 2021.
As of Mar 28, 2024, the latest employee count at Frendy is 35.
Annual revenue of Frendy is $9.93M as on Mar 31, 2023.
Digitized convenience store network solutions for retailers. The platform connects customers with micro stores in small towns and rural areas through mobile application. It also digitally connects to a cluster of micro kirana stores for building a last mile digital commerce bridge to serve a wider range of rural consumers. It provides personalised product recommendations and promotions based on individual buying habits.
Frendy offers Frendy Marts, Private Label Products, and Digital Apps.
Frendy has 33 investors. Key investors include UC Inclusive Credit, LetsVenture, Desai Ventures, Priya Joseph, and AT Capital.
The valuation of Frendy is $24.17M as of Apr 2022.