SaaS startup Shopflo, enabling an easy checkout experience for D2C brands, has raised $2.6 million in seed funding from Tiger Global and TQ Ventures.
With this, Shopflo has fallen into the league of the few Indian startups to receive seed funding at a pre-product stage from Tiger Global. The round saw participation from Better Capital and other angel investors too.
“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 to create a delightful and zero mental load checkout experience. We envision Shopflo as 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,” said Priy Ranjan, CEO and Co-founder of Shopflo.
Before Shopflo, Priy and Ishan worked at Elevation Capital, while Ankit comes from Gupshup. The founders have first-hand experience in the eCommerce, payments, and SaaS space.
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.
Schuster Tanger, Co-Managing Partner, TQ Ventures, said, “Indian eCommerce is a megatrend. The checkout piece sits at the bottom-most part of the funnel with the highest intent customers. The Shopflo team impressed us with their depth of understanding of both D2C and payments SaaS. They are well-positioned to build the renowned Indian company in this space, and we look forward to supporting them on their journey.”
