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.
Investors
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.
About Frate
Frate provides returns management software designed to help eCommerce brands decrease returns sent to their warehouses. Frate’s 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.
Funding Details
Company: Frate
Raised: CAD 3.6M
Round: Seed Round
Funding Date: September 2024
Lead Investor: Matchstick Ventures
Additional Investors: 2048 Ventures, Whitecap Ventures, Closed Loop Venture Partners, Better Ventures
Company Website: https://www.frate.co/
Software Category: Returns Management
Source: Vanessa Francone, Marketing & PR Manager