Frate Secures CAD 3.6 Million in Seed Round | The SaaS News
Summary
Frate, a Toronto, Canada-based provider of returns solutions for ecommerce retailers and consumers, has secured $3.6 CAD million in seed funding, bringing its total funding to $5.7M CAD.The round was led by Matchstick Ventures, with participation from 2048 Ventures (NYC), Whitecap Ventures (Toronto), Closed Loop Venture Partners (NYC), and Better Ventures (SF).Founded in 2013, Matchstick Ventures is a venture capital investment firm based in Minneapolis, Minnesota, that invests in seed-stage companies, with a focus on the Rockies and the North.Frate provides returns management software designed to help eCommerce brands decrease returns sent to their warehouses. Frates returns automation platform helps retailers address rising return costs and fraud with features such as personalized exchange recommendations, AI-driven condition assessments, and peer-to-peer returns. Its clients include Arezzo&Co, Peace Collective, Honey, Canada Pooch, and Felina.