The round was led by Refinery Ventures with participation from Capital Midwest, Venture 53, and the JobsOhio Growth Capital Fund. FRAYT will use the financing to drive product innovation, support rapid market expansion and grow its leadership team.

FRAYT is a last-mile on-demand delivery and logistics technology company that offers businesses professional, on-demand shipping through an intuitive web platform and mobile app. The company has over 12,000 drivers in over 50 markets across the United States, headquartered in Cincinnati, Ohio.