Mumbai: Fintech startup ShopSe, which offers India’s largest Pay later and Instant EMI platform, today announced that it has raised around INR 40 Crores/ USD 5.5 Million in a round funding led by Chiratae Ventures and BEENEXT. The round also had participation from Pentathlon Ventures, Opus and existing angel investor Abhishant Pant of Yatra Angel Network.
ShopSe has been founded by Pallav Jain, Abhishek Nimonkar and Yagnesh Desai who had worked together in PayU before this. Availing affordable EMI options at point of purchase is a very broken and painful process today, for both customers and sellers.
ShopSe founding team has been in this space for a long time and saw the need for a much better EMI solution for the market. The team has built a digital platform with the largest credit-approved customer base in India and being used by 10,000+ retail points today.
ShopSe has been receiving amazing feedback from both customers and retailers and the team is excited about reimagining affordability at point of purchase.
“On behalf of the team, we are grateful to our Bank and NBFC partners, retail partners and customers who placed their trust in us and have been our best brand ambassadors. We are happy to welcome Chiratae, BEENEXT and other investors to ShopSe family and really energized by their belief in our mission.”
The amount raised will enable ShopSe to add great talent, expand market reach to serve the growing demand for their platform and accelerate product development. The team plans to be present at 200,000+ retail points in 12 months.
● The round was led by Chiratae Ventures and BEENEXT followed by Pentathlon ventures, Opus and Yatra Angel Network.
● The investment will enable ShopSe to strengthen the team, expand market reach to serve the growing demand and accelerate product development.
● ShopSe is on a mission to solve for affordability at point of purchase by creating a digital platform between retailers and lenders to provide best experience for retailers and customers.
● ShopSe is being used by 10,000+ retailers today and has partnered with the largest Banks of India with 45 million+ consumers eligible for loans.