It has been a few great months for start-ups in the country and the streak shows no signs of slowing down. This time, Shopflo, a start-up based in India, announced that the company recently bagged an investment worth $2.6 million USD or Rs. 20 crores.
Shopflo is a D2C that enables their customers to have a fast and smooth check out experience. It’s a checkout suite that increases your revenue looking to revolutionize the way payments and check outs are done in e-commerce transactions.
The round of investment was headed by Tiger Global primarily with a group of other angel investors.
The company was established just a year ago in 2021 Priy Ranjan, Ankit Bansal and Ishan Rakshit. The company is building their platform and business model using the Software as a Service (Saas) method.
Mr. Priy Ranjan said that many companies that are direct to the consumers design their web pages with no code tools which is a good choice for the short run but has no potential to grow as it is impossible to manage with a lot of traffic. Many large companies hire and run their own teams of tech which work well for their platforms. But Shopflo looks to target merchants and vendors in the middle.
The founders together bring in an eclectic experience of tech. Ranjan and Rakshit were previously employed to Elevation Capital as they worked on direct-to-consumer businesses as well as other in the financial tech industry. Bansal worked with conversational application Gupshup where he got his Software as a Service (Saas) experience.
This is the first ever funding received by Shopflo as they are still in the pre product stage of their journey and are yet to start their operations to their target group.
With people slowly preferring to shop from the comfort of their own homes, the entire experience of shopping from loading the page, till finishing the checkout should be done smoothly and without a hassle. This is exactly what Shopflo looks to do by optimizing and giving you the best and smoothest experience during your checkouts. The evolution that e-commerce firms have gone through have been nothing short of impressive and commendable, but the entire way the checkout process is built has not been upgraded is almost archaic. This is where Shopflo comes in as they look to revolutionize the entire way checkouts are done making the full process faster and safe.
