Fynd secures undisclosed funding from Facebook exec Anand Chandrasekaran

Online fashion marketplace, Fynd has raised an undisclosed amount of funding from Facebook executive Anand Chandrasekaran in an extended pre-series A round.

Rajiv Mehta, chief executive of Arvind Sports Lifestyle and Ramakant Sharma, co-founder of Livspace, also participated in the round.

Founded in 2013 by Farooq Adam, Harsh Shah, and Sreeraman MG, the Mumbai-based startup sources products directly from nearby outlets and takes four to 24 hours to deliver the order.

The other highlights of the platform include free trials and return back policy, 24-hour delivery and one-touch mobile payment feature. Fynd’s range of products includes ethnic wear, shoes, bags and clothing, among others. Fynd bases its inventory data from over 8,000 stores in cities including New Delhi, Mumbai, Bengaluru, Amritsar, Guwahati, and Kochi.

The new funds would be directed towards enhancing tech infrastructure with an aim to reach optimum delivery time. The founders say that the strategic force behind the rise being partnering with key industry stakeholders is to gain much-needed mentorship and guidance to scale operations. Further, the company plans to increase inventory up to 10 lakh products in coming 6 months.

The company has recently partnered with OlaCabs to provide a shopping experience to customers in the cab. In 2015, the company had raised an undisclosed amount in pre-Series A funding from Kae Capital, and Snapdeal founders Kunal Bahl and Rohit Bansal.

Moreover, the Mumbai-based company launched an omnichannel product ‘Fynd Store’ in a bid to connect online and offline retail channels with benefits of cross-selling and branding.