E-commerce enablement startup Shopflo 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 startup at a pre-product stage. While this is the first seed investment for the New York-based fund in India in 2022, the firm had backed FanCraze (previously Faze Technologies) in its $17.4 million seed round.
Tiger Global had also led a $6.3 million seed funding for San Franciso-based edtech startup Blair in May last year.
Founded in 2021 by Priy Ranjan, Ankit Bansal and Ishan Rakshit, Shopflo is building a checkout SaaS platform for D2C brands to provide experience to their customers, enabling merchants to maximise long term value from visitors to their website. It’s quite similar to other e-commerce enablement startups that cover the entire user journey from the point of placing orders till the orders get delivered.
Currently, the Bengaluru-based startup is in beta and live with select merchants.
Shopflo primarily competes with Sequoia-backed GoKwik which announced its $35 million Series B round on Wednesday.
Update: The headline and story have been changed to reflect that Shopflo is the first seed investment by Tiger Global in India in 2022.