Problem:
Frex is transforming how millions of NRIs (Non Resident Indians) manage and move their hard earned money. In a short span of time, Frex has become one of the most trusted platforms offering fast and secure digital transfers for NRIs looking to remit money to India.
“Our goal is that NRIs should be able to send money to India as easily as using Zelle, Venmo, or UPI. From downloading the app to the money reaching their Indian bank account, the entire process should take less than a few minutes,” said Himanshu, Co-founder, Frex.
Since Frex is a fintech product, it requires numerous integrations across the regions where it operates. The partners we work with in these geographies also have specific regulatory requirements that must be met. “So, one of the integrations we were working on involved a partner that had a regulatory requirement for the company to have an Employer Identification Number EIN. This partnership became a bottleneck for us in launching the new feature on the product. It was an extremely critical partnership for the go-live, and we had to solve this EIN problem.”
With product launch on the line, the team dug deep to find a real, effective path to an EIN.
The Solution:
Himanshu took the lead in exploring potential solutions to the EIN challenge. He began by researching whether foreign companies could obtain an EIN without establishing a U.S. entity or if incorporation within the United States was a necessary prerequisite. To gain clarity, they also reached out to the IRS directly, seeking guidance on possible ways for a foreign company to secure an EIN and move the partnership forward. He also activated his network of founders in US or Indian companies with a US entity.
After exhausting multiple avenues of research and consultation, a friend recommended Commenda, and shared the contact of Co-founder & CEO, Spencer Schneier. “I remember it was a Sunday but Spencer quickly got the discussion going. He explained in detail why the fastest and the most scalable way is to incorporate a company in the US and then apply for an EIN,” said Himanshu.
Having worked with numerous international founders navigating U.S. compliance, Commenda brought valuable experience in helping foreign companies structure themselves to meet American regulatory requirements.
The Outcome:
A seamless, accelerated formation and compliance experience
Frex needed a partner that could simplify an unfamiliar regulatory landscape and move with the same urgency as a fast-scaling fintech. Before finding Commenda, Himanshu tested several platforms, but none offered both the clarity and the speed required to launch confidently in the United States.
With Commenda, that changed immediately.
“All it took was just a day. From giving a very clear point of view, which wasn’t available anywhere else, to getting your team in action, it was very quick.” Himanshu says.
A clear path through regulatory complexity
Commenda created a unified experience across entity formation, EIN acquisition, and ongoing compliance. What normally takes weeks was completed in a single day, with the Commenda team guiding every stage.
After onboarding, Frex received a clear briefing on annual maintenance requirements and was connected with a U.S. accountant. Commenda also provided a customized compliance calendar to keep every deadline visible and manageable.
For a founder navigating U.S. regulations for the first time, this level of clarity made a significant difference. “Had I known this was going to be so fast, I wouldn’t have wasted time trying to figure this out myself,” he says.
Removing bottlenecks so founders can build
Frex operates with the pace of a global fintech, and Commenda matched that urgency. “Your team understands that startups need velocity. Setting up a company is not a goal, it is an enabler. This part has to be as fast as possible,” Himanshu explains.
Commenda also provided tailored, actionable guidance backed by real expertise. “Clear advice that demonstrates understanding of the market and real expertise in this area,” he adds.
This responsiveness stood out during Himanshu’s evaluation of alternatives. “I did check out multiple platforms, and one of your competitors gave me a time slot to speak on Wednesday. It was a Sunday.” Commenda, in contrast, supported him immediately when he needed help.
A simpler path to compliance and launch
Commenda helped Frex turn a typically slow and confusing setup into a streamlined path toward launch. Regulatory blockers were resolved quickly, processes were centralized, and ongoing compliance became predictable and easy to manage.
Key Takeaways
- Commenda helped Frex unblock a critical partnership by providing the fastest path to securing an EIN.
- The entire setup process was streamlined into a single, coordinated workflow that enabled same-day progress.
- Clear guidance gave the founders immediate clarity on U.S. requirements and removed weeks of uncertainty.
- Commenda’s responsiveness matched the speed Frex needed during a time-sensitive launch.
- Ongoing compliance became simple and predictable with customized calendars and transparent expectations.