Frendy Ties down Crisp Financing to Grow Provincial Staple Organization

Frendy, a retail technology-driven grocery chain specializing in smaller formats, has successfully procured Rs 2 crore in debt financing from UC Inclusive Credit. This latest investment brings the company’s total capital raised to Rs 42 crore.

Frendy has garnered support from a diverse investor base, including Auxano Capital, AT Capital (Singapore), Desai Ventures, Let’s Venture, MARV Capital (New York), and Metara Ventures (Singapore).

Strategic Investment for Expansion

The newly acquired funds will be strategically allocated to bolster Frendy’s central inventory, ensuring a consistent supply to its network of Frendy Marts and Micro Kiranas situated in Tier III towns within Gujarat.

The company has demonstrated impressive financial performance, generating Rs 82 crore in revenue during the fiscal year 2023. With ambitious expansion plans, Frendy aims to double its sales within the next year by increasing its geographic footprint.

Building a Robust Rural Retail Network

Established in 2019 by Sameer Gandotra, Frendy is committed to laying out an organization of present day, neighborhood supermarkets in India’s more modest towns and towns. The organization right now works 25 shops and 2,000 miniature kiranas across provincial Gujarat.

Frendy has set an aggressive objective of growing its presence to 100 shops and 3,000 miniature kiranas inside the following a year. The organization’s imaginative methodology includes carefully interfacing its shops to a bunch of miniature kiranas, making a consistent last-mile computerized business stage to serve a more extensive rustic customer base.