Tiger Global enters early stage, invests in $2.6M round of e-commerce startup Shopflo

• ByStartupStory     |    May 11, 2022

E-commerce startup Shopflo announced on Wednesday that it has raised $ 2.6 million in a seed funding round led by Tiger Global and TQ Ventures. A group of angel investors from Better Capital and the Indian startup ecosystem also participated in the funding round.

This makes Shopflo one of the few Indian pre-product startups to receive seed funding from Tiger Global.  Tiger is a multi-tiered fund, but it’s not common to support early-stage businesses.

Founded in 2021 by Priy Ranjan, Ankit Bansal and Ishan Rakshit, Shopflo provides a platform for Direct-to-Consumer (D2C) brands to improve their website checkout experience  and improve conversion rates. To do. In addition, it helps to personalize these checkout experiences for brand-wide customers. As of now, the startup is affiliated with six merchants, including D2C companies and roll-up commerce brands. The company refused to provide details of these dealers.

The founders of Shopflo have direct experience in the areas of e-commerce, payments and SaaS. Prior to founding Shopflo, Priy and Ishan were in Elevation Capital, while Ankit worked in the communications SaaS unicorn Gupshup.

Priy Ranjan, CEO and Co-founder, Shopflo, said, “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.”

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