Shopflo Raises $2.6M In Seed Funding From Tiger Global, TQ Ventures
Shopflo, a checkout SaaS platform for D2C brands, has raised $2.6 million in seed funding from Tiger Global and TQ Ventures.
The funding round also saw participation from Better Capital and a pool of other angel investors.
Shopflo | Building The Future Of Checkout
Founded by Priy Ranjan, Ishan Rakshit, and Ankit Bansal, Shopflo aims to supercharge conversions for e-commerce websites at the checkout by improving user experience, helping build stronger intent and trust during the purchase.
The startup focuses on empowering D2C brands to provide a better checkout experience to their customers, enabling merchants to maximise long term value from visitors with their website.
Speaking about the development, Priy Ranjan, CEO and Co-founder of 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.”
“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.”
As per the founders, D2C merchants see approximately 70% customers drop off between add to cart and purchase steps. Shopflo claims to be offering a seamless and minimum cognitive load experience to the consumers, helping improve conversion rates while shopping.
The startup is out of beta and live with select merchants. Additionally, with this round, Shopflo has become one of the only Indian startups at a pre-product stage to receive seed funding from Tiger Global.
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