Frendy secures Rs 2 crore debt fund from UC Inclusive Credit

Frendy, a micro kirana chain has secured Rs 2 crore ($2,39,315) debt fund from UC Inclusive Credit, the NBFC arm of Unitus Capital.

The company will utilise the capital to strengthen its central inventory and expand its network of marts and 2,000 kirana stores across India.

Commenting on the funding, Sameer Gandotra, founder CEO of Frendy in a statement said, “This latest funding round underscores our commitment to enhancing the accessibility and convenience of essential goods for communities in underserved regions. With an already robust revenue of Rs 82 crore in the fiscal year 2022-23, we are poised to double our sales with strategic geographical expansion initiatives.”

Abhijit Ray, managing director of UC Inclusive Credit added, “UCIC is committed to supporting visionary founders like those at Frendy, who are driving transformative change in Bharat’s MSME sector. This collaboration reflects our confidence in their innovative approach and strong market positioning.”

Founded in 2019, Frendy offers diverse private label portfolio across categories. It aims to expand its footprint to encompass 100 marts and 3,000 micro kiranas within the next 12 months.