logo
logo

Tiger Global Goes Seed-Stage, Invests In Ecommerce Enablement Startup Shopflo’s $2.6 Million Round

May 11, 2022•over 3 years ago

Amount Raised

$2.6 Million

Round Type

seed

Bengaluru

Description

Bengaluru: Ecommerce enablement startup, Shopflo on Wednesday said that it has raised $2.6 million as a part of its seed funding round led by Tiger Global and TQ Ventures. Better Capital as well as a pool of angel investors from the Indian startup ecosystem also participated in the financing round.

Company Information

Company

Shopflo

Location

Bengaluru, Karnataka, India

About

The startup, at present, has partnered with six merchants including D2C firms and a rollup commerce brand. The company declined to offer details of these merchants. The company now plans to scale its product to 150 online merchants and process up to $300 million in gross merchandise value (GMV) checkouts, this fiscal. Founded in 2021 by Priy Ranjan, Ankit Bansal and Ishan Rakshit, Shopflo provides a platform which allows direct-to-consumer (D2C) brands to improve their checkout experience at their own websites and improve conversion rates. While the focus continues to be on scaling the business and finding the right product-market fit, Shopflo also has plans to expand internationally, after its first year of operations as well as to launch newer offerings in segments of discounting, customer loyalty, among other aspects."Indian e-commerce is a megatrend. Shopflo is well-positioned to be the default checkout for the fast-growing Indian D2C market.