Team Startupcity

• FRND is raising $25 million from investors including India Quotient and Elevation Capital.
• The app focuses on non-metro cities, targeting Tier 2 and smaller regions overlooked by global dating platforms.
• FRND’s revenue jumped to Rs 74 crore in FY24, turning profitable after previous losses.

FRND, a social media and dating app focused on non-metro cities, is in the process of raising $25 million from new and existing investors, including India Quotient and Elevation Capital, sources familiar with the matter told IndianStartupNews (ISN).

“A large external investor will lead the round, while IQ and Elevation will also participate as the company grows”, a source added, citing confidentiality. The funding round is expected to close in the coming months. FRND did not respond to a request for comment.

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The app has been gaining popularity by targeting users in Tier 2 and smaller cities, unlike global dating platforms like Tinder and Bumble that primarily focus on English-speaking audiences. FRND aims to fill this gap and engage users looking for meaningful connections outside metro areas.

The fresh capital will be used to expand the platform, increase user engagement, and strengthen marketing efforts. “The more users we have, the higher the chances of monetisation”, a source said.

FRND has shown strong financial growth, with revenues jumping from Rs 21 crore in FY23 to Rs 74 crore in FY24. The company also reported a profit of Rs 9.4 crore, a significant turnaround from Rs 13 crore losses the previous year, making it an attractive option for investors.

As dating apps continue to thrive amid rising social isolation, FRND is positioning itself as a major player in smaller Indian cities, offering opportunities for social connection and revenue growth.