Tiger Global Invests $2.6M In eCommerce Startup Shopflo 

eCommerce startup Shopflo, on Wednesday, said it raised $ 2.6 million as part of an initial funding round led by Tiger Global. Better Capital and a Pool of Angelic in investors from the Indian Startup are two other startup ecosystems that participated in the funding round.

After this funding round, Shoplfo becomes one of the Indian startups in a pre-product phase, which has received initial funding from Tiger Global. Tiger is a multiphase fund provider and does not support companies in the seed stage. 

Shopflo, founded in 2021 by Ankit Bansal, Priya Ranjan and Ishan Rakshit, is a platform that allows direct-to-commerce (D2C) brands to improve their checkout experience at their own websites along with conversion rates. It further helps to personalise these checkout experiences for customers across all brands. 

Recently, the startup has partnered with six merchants, including D2C firms and a rollup commerce brand. Besides this, the company has also partnered with leading payment gateways, including Razorpay and Cashfree, to offer checkout payments to its merchant partners. 

“After talking to over 100 small merchants, we realise that there is a continuous gap in checkouts for small brands as compared to large platforms, who own their checkout experiences. Through Shopflo, we want to ensure that customers get the same checkout experiences scroll all small D2C brands they shop from and increase conversion for these smaller merchants. We are already seeing a 15% to 20% increase in conversions for some of these brands” said Ranjan, Chief Executive Officer and Co-founder of Shopflo.  

This fiscal year, the company plans to increase the production of its products to 150 online merchants and process up to $ 300 million in Gross Merchandise Value (GMV) checkouts. 

Currently, Shopflo is competing with GoKwik in India. 

Leave a Reply