Total amount raised
₹870 Millions
Latest funding date
05/01/2022
Location
ShopSe has successfully raised funds through a Series A round, attracting seven investors, including White Venture Capital and BEENEXT. The platform offers instant EMI solutions, empowering consumers to shop now and pay later across various categories.
Keep reading to explore the intricacies of ShopSe's fundraising journey and the investors backing this innovative platform.
What Is ShopSe?
ShopSe, founded in 2020, is a fintech company based in Mumbai, Maharashtra, India. The platform specializes in providing pay later and instant EMI solutions, enabling consumers to shop now and pay later across various categories.
The company was founded by Abhishek Nimonkar, Pallav Jain, and Yagnesh Desai. ShopSe has grown rapidly and currently employs between 251-500 people.
With a mission to empower Indians to fulfill their dreams through flexible EMI options, ShopSe has partnered with numerous merchants, brands, and lending institutions to offer a wide range of products and services.
How Much Funding Has ShopSe Raised?
- Seed Round
- Amount Raised: $5.5 million
- Date: April 2021
- Lead Investors: BEENEXT, Chiratae Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the company's reach and enhance its platform capabilities.
- Series A
- Amount Raised: $6.1 million
- Date: May 2022
- Lead Investors: BEENEXT, Chiratae Ventures, White Venture Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate serviceability to 150,000 more retailers, grow lender partnerships, and enhance platform capabilities.
Total Amount Raised: $11.6 million. Current Valuation: Not publicly disclosed.
Key Investors
Here are the major investors in ShopSe, along with details about each:
- BEENEXT
- Details: BEENEXT is an early-stage venture capital firm that invests in technology startups. The firm is known for its focus on fintech, e-commerce, and SaaS sectors.
- Investment Focus Areas: Fintech, e-commerce, SaaS
- Notable Investments: NoBroker, Zilingo, Trusting Social
- Chiratae Ventures
- Details: Chiratae Ventures, formerly known as IDG Ventures India, is a venture capital firm that invests in early to growth-stage technology companies. The firm has a strong presence in the Indian startup ecosystem.
- Investment Focus Areas: Technology, healthcare, consumer products
- Notable Investments: Flipkart, Myntra, Lenskart
- White Venture Capital
- Details: White Venture Capital is a venture capital firm backed by fintech veterans Amrish Rau and Jitendra Gupta. The firm focuses on early-stage technology startups.
- Investment Focus Areas: Fintech, digital payment solutions
- Notable Investments: Not publicly disclosed
Information about other major investors was not found in the provided sources.
What's Next for ShopSe?
ShopSe is poised to seize significant opportunities by expanding its serviceability to 150,000 more retailers and enhancing its platform capabilities to serve over 45 million Indian consumers. This expansion is supported by the recent $6.1 million Series A funding round, which will also help build a top-quality team and grow lender partnerships.
Given the rapid growth and successful funding rounds, ShopSe is likely to attract further investments to support its ambitious plans. However, the company may face challenges such as scaling operations, maintaining service quality, and navigating regulatory requirements in the fintech space.
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