Software-as-a-service (SaaS) platform Shopflo, operated by Shopflo Technologies Pvt. Ltd Wednesday said it has become the first startup to receive seed funding from Tiger Global at a pre-product stage.
Shopflo has raised $2.6 million (around Rs 20 crore) in a round from Tiger Global and TQ Ventures. Better Capital and a pool of other angel investors also participated in the round.
"A seamless checkout experience has become a baseline expectation by consumers. However, checkout for e-commerce merchants hasn’t changed much in the last decade. Shopflo will change this,” said John Curtius, partner at Tiger Global.
“Shopflo is well-positioned to be the default checkout for the fast-growing Indian direct-to-consumer (D2C) market. We are excited to be their first backers along this journey," he added.
Founded in 2021 by Priy Ranjan, Ankit Bansal and Ishan Rakshit, Shopflo offers a SaaS platform for a smooth checkout experience for direct-to-consumer (D2C) brands on their websites to improve conversion rates.
“Most of these D2C merchants build their websites using no-code tools which are great for smaller merchants. The next best platforms are only suitable for large enterprises with in-house tech teams. We at Shopflo are targeting the merchants in the middle. We are starting as a checkout SaaS platform for D2C brands with a goal of creating a delightful and zero mental load checkout experience," Ranjan said.
We envision Shopflo to be the checkout layer in the global headless commerce stack. We are privileged to have Tiger Global, TQ Ventures and Better Capital join us as we plan to bring the D2C checkout experience closer to Swiggy and Amazon," he added.
According to the startup's statement, Shopflo’s focus is to empower D2C brands to provide experience to their customers, enabling merchants to maximise long-term value from visitors to their website. They are out of beta and live with select merchants.
