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Ex-Model's Frich App: Gen Z's Financial Reality Check

With a burgeoning B2B subscription model, Frich is nearing $1 million in annual recurring revenue
May 31, 2024

In a world where social media often paints an unrealistic picture of financial success, two young entrepreneurs, Katrin Kaurov and Aleksandra Medina, saw an opportunity to foster genuine conversations about money management. Their brainchild, New York-based Frich, aims to fill the void by creating a social financial community tailored specifically for Gen Z.

Kaurov and Medina identified a prevalent issue among their peers— a lack of authentic dialogue surrounding financial well-being. With Frich, they offer a platform where users can anonymously seek advice, compare their financial standing with peers, and access relevant financial resources without the pressure of competition or judgment.

Through partnerships with financial brands, Frich leverages user data to connect Gen Zers with services that cater to their unique needs, thus bridging the gap between financial institutions and the desires of the younger generation.

Since its inception in 2021, Frich has rapidly expanded its user base to over 100,000 Gen Z members across the United States, demonstrating significant potential for growth. The company's recent $2.8 million seed funding round, led by Restive Ventures, underscores investor confidence in its innovative approach to financial empowerment for the next generation.

While Frich faces competition in the burgeoning fintech space, its commitment to authenticity and community-driven engagement sets it apart as a promising contender poised for significant impact in the evolving landscape of financial technology.

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