Investor Partnering Details

Business type: Fynd

Fynd.

Learning, reinventing, and pivoting are the realities of being a part of a startup. Living in such a reality are Farooq Adam (32), Harsh Shah (27), and Sreeraman M.G. (28). In November 2015, they pivoted from Shopsense, a B2B retail and inventory management solution, to Fynd, a B2C e-commerce marketplace.


Learning, reinventing, and pivoting are the realities of being a part of a startup. Living in such a reality are Farooq Adam (32), Harsh Shah (27), and Sreeraman M.G. (28). In November 2015, they pivoted from Shopsense, a B2B retail and inventory management solution, to Fynd, a B2C e-commerce marketplace. Learning, reinventing, and pivoting are the realities of being a part of a startup. Living in such a reality are Farooq Adam (32), Harsh Shah (27), and Sreeraman M.G. (28). In November 2015, they pivoted from Shopsense, a B2B retail and inventory management solution, to Fynd, a B2C e-commerce marketplace. Co-founder Harsh tells us that the activations were apparel based, with graphic tees finding marketing done in colleges and startups while office apparels saw the team going to bigger offices in Lower Parel. Today, Fynd has 97,000 downloads on Play Store with 8,000 on iOS. Obviously, Harsh and the other co-founders do not deny the massive experience that they carried from their previous business model. E-commerce with a twist But here’s the twist: Fynd is not like its other contemporaries in the market, rather it focuses more on helping the existing offline stores come online without changing any dynamics. Harsh explains, “The growing concern for brands today is selling their latest in-season fashions, with a push to exhaust most of their inventories through people buying from original offline stores rather than through online discounting models and marketplaces.” Fynd aims to partner with offline brand stores near your vicinity, giving you the latest in-season fashion at the store price, while applying discounts only when there is a discount in the store. How is that customer-friendly? Harsh replies by saying that the following model reduces the delivery time from days to a mere four to six hours. The customers also get fitting option ‘Fynd a Fit’, where if a certain consumer has asked for a size M, a size L will also be carried by the delivery personnel to be sure of the fitting. In case the size is right, then customers can take one of the offered options or return the product altogether. Harsh rebuttals further by saying the basics of e-commerce remains the same. Instant gratification and best customer experience is what will get customer loyalty, while discount is just an added layer to the offering. He also doesn’t deny the importance of current in-season fashions, which according to him, his contemporaries are not showcasing. “If online discounting is such a huge thing, why is 90 per cent of the total urban market buying from offline stores today? 85 per cent of the inventory of most e-commerce players today is old, followed by a mere 10 per cent which is current and in trend. For us every store is a stock point, and we are helping stores from keeping separate products for online markets, while assisting their sales.” Harsh says for brands, fashion comes of equal importance as selling. However, the co-founders don’t deny the fact that Fynd has partner stores for sourcing products in places like Guwahati, just to be on the safer side. In November last year, Shopsense raised an undisclosed amount of pre-series A funding from Kae Capital, Kunal Bahl, and Rohit Bansal as investors to go bullish on their B2C platform, Fynd.