Generation Z is filled with frequent flyers. According to Travel Daily News, nearly one in five Gen Z travelers in the U.S. allocate at least 40 percent of their disposable income toward vacations; an additional 47.8 percent allocate 20 to 40 percent toward vacationing. James McElroy, now the CEO of Frienzy, is no different.
During college McElroy had one aspiration: to have a remote job that would allow him to work from anywhere in the world. After graduating from The University of Texas he got a job as a remote software engineer, enabling him to live a travel-friendly lifestyle.
McElroy bounced around countries in Central and South America, falling in love with meeting new people and immersing himself in different cultures—all while coding and designing software applications for various companies. As he traveled the world, McElroy began to see not only new places but also new opportunities.
“While traveling to parts of Central and South America, I was taken aback by many young individuals who forged their own unique paths in life,” he said. “Deviating from the conventional norms of a 9 to 5 existence, the confines of a white picket fence, and the notion of settling down with a picture-perfect family. Instead, they were driven by a desire for experiences and meaningful connections with diverse cultures. Given the role that travel plays in shaping the ethos of this emerging generation, it surprised me that there was a lack of tailored technology catering to making the online travel experience more seamless.”
So, McElroy teamed up with his childhood best friend Asher Wabrek to build a social network and mobile app that allows travelers to securely manage their trip itinerary, hotels, transportation, and all the costs associated with the trip in one place. It also allows users to connect with other travelers in the exact location, similar to a dating app. Users can join groups, message fellow travelers, and plan trips through the app.
It’s resulted in rapid success. Frienzy has already raised funds from angel investors and family offices, primarily in Dallas, and is considering raising more institutional funding. To date, the startup has raised approximately $500,000 in pre-seed funding and currently has 15,000 users. McElroy—who left his job as a software engineer in April to focus on Frienzy—projects the app will reach 250,000 users as early as the end of this year.
Frienzy currently has eight employees, including five engineers and a social media manager. The team collaborates with contractors and a marketing firm to support its scaling efforts.
One of Frienzy’s unique features is the ability to split costs among a single group. McElroy says one of the most common pain points on a big group trip is losing track of costs and who paid for what. The app allows users to split costs and track expenses, aiming to eliminate financial confusion. This feature aims to ensure that everyone is reimbursed correctly at the end of the trip, whether for hotels, restaurants, or other activities.
As a budding entrepreneur, McElroy wears many hats. While he is most comfortable working on the product and writing code for the app, he has discovered a love for pitching and the fundraising process.
“As a new company, we are currently in a phase of rapid development and expansion,” he says. “Our primary objective is to consolidate our position in the market by enhancing user engagement and increasing the number of successful transactions. By closely monitoring key performance indicators such as user activation and booking metrics, we can effectively gauge the progress of our platform. Based on our current trajectory, we anticipate reaching [250,000 users] either by the end of this year or early in the first quarter of 2025.”
But can childhood best friends really build a successful tech company together? It’s a question Wabrek, who as COO specializes in partnerships and revenue trajectory, and McElroy, who focuses on product development and fundraising, have received throughout the upstart of Frenzy.
“When I began this journey alongside Asher, I was met with conflicting opinions,” McElroy said. “Some say starting a business with a lifelong best friend only enhances its ability and propels it forward. At the same time, others perceived it as a potential hindrance. However, from my experience, having Asher by my side has been an incredible advantage. Having known him for so long, we understand each other’s strengths and weaknesses, enabling us to collaborate on tasks and overcome challenges. After years of familiarity, we are unafraid to lock eyes and make difficult decisions or utter the word ‘no’ when necessary.”
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