The Fynd Portal
Launched in November 2015 by the Farooq Adam, Harsh Shah, and Sreeraman MG, Fynd (1) is an O2O based model and produces products related to the fashion industry like clothing, apparel, etc. from different prominent brands to the consumers. Fynd helps store get much more attention towards people and grabs their attention uniquely. To people’s surprise, Fynd had some speedy downloads all around the country and gained much popularity in less time.
The main point that Fynd is a lot more different than other online shopping portals like Myntra, Shein, Flipkart etc. is that Fynd does not produce their goods or products and not even serve the customers directly unlike websites like Myntra. Fynd focuses on getting partnered with offline stores in your locality and tries to promote its brand. In easy words, Fynd acts as a mediator between Fashion or Lifestyle stores to the consumers in a friendly manner.
Business Model of Fynd
Fynd is mainly a B2C model that focuses on selling products from different brands or shops to consumers. It solves the inventory and storage problems among the brands and support with more than 50 integrations and approx 200 retailers, which help brands get more visibility among people, thereby enhancing their sales. The company charges a 20-25% commission to different partnered brands with Rs—60-80 as the delivery charges to people. Fynd provides people with immense choices regarding the things, from a mere color difference to the sizes of a product, one has many options to choose from.
The firm has almost 100 active brands on its portal, with 15,000 stores and stock points throughout the country. Fynd handles with nearly a hundred transactions daily with an approximate order of Rs. 2000. The deals are said to be growing with 30% each week and noticed that almost 70% of orders come up from unique customers with the demands regarding the brand of Being Human, Nike, etc.
Revenue Generations and Fundings
Fynd has more than 8K partnered brands working with them and successfully is satisfying people’s needs. The latest news regarding the funding rounds of Fynd focused on the Fundings made by Google with Series C funds.
Different investors like Kae Capital, IIFL, GrowX, Venture Catalyst, etc. took part in these funding rounds. With a motive of enhancing their relations with the customers, Fynd took up these funding rounds and successfully got up with Google. According to the sources, this startup Fynd had almost three rounds and raised $3.4Mn by 2017. Different factors that attracted Google to Fynd were that they noticed the potential in Fynd like a Tech-first portal and has a unique inventory approach that other companies didn’t have.
The firm mainly earns through commission over different brands and the delivery fees. They charge with almost 20% commission on a brand and charges standard delivery fees with nearly every person.
Features and Advantages of Fynd
As we all understand, the Fynd portal works pretty unique and has several benefits for both a partnered retailer and a consumer; soo read this article further to know how it works!
The customer just has to browse the thing that they feel like shopping for, and the app itself does the rest of the work! A person can themselves go and buy the product from the shop displayed on the Fynd or else just add the address; they will bring the product to you. To our amazement, the find delivery person always carries an extra size bigger to the cloth you order, for instance, if you order the S size of a fabric, the shop sends an M size to the delivery person! So that if any size issue occurs, then you can quickly get the size whichever fits on to you! If it suits you, then buy or else return immediately to the delivery person who saves your time and issues of returns and exchange there and later.
Benefits to Consumers
- Browse+ lets you get all the information about a product in all the stores near you, select the deal you like from any store!
- Mix & Match option is also available, which allows you to get anything of your wish without the doubt that it will go together.
- One can also go in-stores and buy by actually looking on to them or order as they like, both options are available, and a consumer can select it according to them.
Benefits to Partnered Stores
- A store can quickly know about different things regarding their rival stores and increase their capabilities accordingly.
- Mix & Match features provided to customers allow the stores to have Cross-Sell.
- The stores don’t have to worry about the delivery and the logistics process; it will be carried out by the Fynd people in a secure method.
- Fynd caters to anyone interested in their stores and helps them out, which in turn provides you with a profit.
Fynd is indeed the new destination for online shopping, which will enhance both the customer and the store’s experience and thereby gives new goals for other online portals to compete in making their portal better than the other on