Fynd

Fynd, operated by Shopsense Retail Technologies (also referred to as Shopsense Retail Technology Private Limited), is an Indian retail-technology and e-commerce company headquartered in Mumbai. It runs an omnichannel, online-to-offline (O2O) platform that connects brands' physical store inventory to online sales channels, sourcing products such as clothing, footwear, jewellery and accessories directly from brand outlets rather than from company-owned warehouses. Orders placed through its website and app are routed to vendors who pack and hand off shipments to third-party logistics providers, with fulfilment from the outlet nearest to the customer used to shorten delivery times.

Core products include Fynd Marketplace for vendors and Fynd Store, an in-store product that lets store staff capture in-store sales data and place orders on behalf of walk-in shoppers when an item or size is not stocked. The company added Fify, a conversational shopping assistant bot, in 2016; a direct-to-retail (B2B) application in 2019 aimed at shopkeepers in Tier 2 and Tier 3 cities; an AI-based Chrome extension for visual product search; and an Open API allowing businesses to build omnichannel commerce applications on top of its real-time inventory integrations. The company describes itself as a multiplatform technology company whose portfolio spans retail store solutions, supply chain, website building, marketplace selling, fashion manufacturing and AI products including Kaily.ai, Boltic.io, Pixelbin.io and GlamAR.io.

Following Reliance Industries' 2019 purchase of a majority stake, Fynd describes itself as backed by Reliance Jio and formerly by Google, and positions its platform as part of India's omnichannel commerce ecosystem.

Founding story

The company was founded in Mumbai in September 2012 by Farooq Adam, Harsh Shah and Sreeraman MG, alumni of IIT Bombay who had previously worked at technology companies. It launched as Shopsense, a service focused on improving the in-store customer experience for brands, and initially sold lifestyle products from branded stores before building a technology platform for merchants to manage sales across multiple channels.

Business model

Fynd operates a platform business connecting fashion and lifestyle brands and their physical stores to online demand. It does not own warehouses or logistics operations; vendors fulfil orders and third-party logistics providers deliver them. Alongside its consumer marketplace, the company sells technology products to businesses, including in-store solutions, supply chain and retail store software, website building, marketplace selling tools, fashion manufacturing solutions and AI products.

Revenue is generated from commerce transactions routed through its marketplace and from technology products sold to brands and retailers. Reported turnover was INR 4.84 Cr in FY2018, INR 0.70 Cr in FY2017 and INR 0.52 Cr in FY2016, with losses of INR 18.64 Cr, INR 10.64 Cr and INR 1.51 Cr respectively; a later data profile reports revenue of over INR 200.2 Cr for FY25.

Traction

Reported scale has grown over time: approximately 500 clients and about 8,000 outlets at the time of the 2019 Reliance deal; over 600 fashion brands and 9,000 stores connected across India as of 2020; and 2,300+ brands and over 20 million consumers per the company's own account. The app has recorded more than 10 million downloads and the website roughly 150,000 visitors per month; the company reported GMV growth of 7x and monthly revenue of INR 4-5 crore in the fiscal year discussed in March 2019.

Latest developments

Fynd is majority-owned by Reliance Industries following the 2019 stake purchase and describes itself as backed by Reliance Jio and formerly by Google. Its current positioning spans retail-tech and AI platforms, with a team described as 800+ on its own site and an employee count of 1,187 in a third-party data profile, and an expansion office in Dubai.