Total amount raised
₹870 Million
Latest funding date
05/01/2022
Location
ShopSe has successfully raised funds through two rounds of financing, with notable investors including White Venture Capital and BEENEXT. The fintech company offers a platform for pay later and instant EMI services, aiming to reduce checkout friction and increase conversions for businesses.
Keep reading to explore the intricacies of ShopSe's fundraising journey and the investors backing this innovative platform.
What Is ShopSe?
ShopSe is a fintech company headquartered in Mumbai, Maharashtra, India. It provides an advanced affordability platform designed to maximize business conversions by offering comprehensive payment acceptance solutions. The company supports various payment modes, including instant EMIs and full payments, to reduce checkout friction and make affordability more accessible to customers.
Founded by Pallav Jain, Abhishek Nimonkar, and Yagnesh Desai, ShopSe collaborates with over 250 brands and multiple lending partners. The company has an employee count ranging from 251 to 500, and it operates within the Financial Services, FinTech, and Payments industries.
How Much Funding Has ShopSe Raised?
- Seed Round
- Amount Raised: $5.5 million
- Date: April 2021
- Lead Investors: Chiratae Ventures, BEENEXT
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To establish and initially grow the platform.
- Series A Round
- Amount Raised: $6.1 million
- Date: May 25, 2022
- Lead Investors: BEENEXT, Chiratae Ventures, White Venture Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand serviceability to 150,000 more retailers, build a top-quality team, grow lender partnerships, and enhance platform capabilities.
Total Amount Raised: $11.6 million. Current Valuation: Not publicly disclosed.
Key Investors
- BEENEXT
- Details: BEENEXT is a venture capital firm that invests in early-stage technology startups. The firm is known for its focus on fintech and innovative startups.
- Investment Focus Areas: Fintech, e-commerce, SaaS, technology-driven sectors
- Notable Investments: NoBroker, Zilingo, Trusting Social
- Chiratae Ventures
- Details: Chiratae Ventures is an India-based venture capital firm that focuses on early-stage and growth-stage investments. The firm has a strong presence in the technology sector.
- Investment Focus Areas: Technology, healthcare, consumer media, financial services
- Notable Investments: Myntra, Lenskart, CureFit
- White Venture Capital
- Details: White Venture Capital is a fund backed by Amrish Rau and Jitendra Gupta. The firm focuses on investing in fintech and innovative startups.
- Investment Focus Areas: Fintech, technology-driven startups
- Notable Investments: Not publicly disclosed
What's Next for ShopSe?
ShopSe is poised to seize significant opportunities by expanding its service to 150,000 more retailers and enhancing its platform capabilities to serve over 45 million Indian consumers. This growth is supported by a recent $6.1 million Series A funding round, which will also help build a top-quality team and grow lender partnerships.
Future fundraising opportunities seem likely as ShopSe continues its rapid expansion and innovation. The increasing demand for digital no-cost EMI solutions and the growth of fintech platforms providing instant credit solutions present a fertile ground for further investments.
However, ShopSe may face challenges such as scaling operations to meet the needs of a larger retailer network, maintaining service quality, and navigating regulatory requirements. Competition from other fintech companies and the need to build and retain a top-quality team in a competitive market are additional hurdles.
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