Shopflo, a SaaS platform easing checkout experience for D2C brands, announced today that it has raised $2.6 million in its seed funding from Tiger Global and TQ Ventures. Better Capital and a pool of other angel investors also participated in the round. This funding from Tiger Global makes a first of its kind for the investment firm for a start-up at a pre-product stage.
Priy Ranjan, CEO & 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. 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.”
The founders of Shopflo have deep first hand experience in the e-commerce, payments and SaaS space. Priy and Ishan were at Elevation Capital interacting with D2C and Fintech companies respectively, while Ankit worked on a “Shopify for Restaurants” product at communications SaaS unicorn Gupshup.
"A seamless checkout experience has become a baseline expectation for 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 D2C market. We are excited to be their first backers along this journey."
Shopflo’s focus is to empower D2C brands to provide experience to their customers, enabling merchants to maximise long term value from visitors with their website. They are out of beta and live with select merchants.