ShopSe, a Point of Sale startup, has secured Rs 40 crore ($5.5 million) in Chiratae Ventures and BeeNext led funding. The round also saw participation from Opus, Pentathlon Ventures and Yatra Angel Network of Abhishant Pant.
“We are delighted that leading banks and NBFCs of India also agree with our view and have chosen to partner with us. With these lender partnerships, our large retailer base and growing base of delighted customers, we are excited about reimagining the space for affordability at point of purchase,” said chief executive and co-founder of ShopSe – Pallav Jain.
The fresh funds raised will be utilized to strengthen the team and to scale the reach of the startup. According to a statement, the platform aims to be present across more than 200,000 retail touchpoints in the coming twelve months.
Founder and MD, Chiratae Ventures – TCM Sundaram, commented, “ShopSe is revolutionising point of sale lending by bringing together the consumers’ needs and the lenders at the time of purchase, that helps the retailer close a sale. We look forward to ShopSe help drive India’s consumption growth in the years to come.”
Arya has been a part of the Content & Research Team at Hrnxt.com. She is a keen observer of economic developments, emerging businesses, people in business and keeps a tab on latest happenings in the business environment.