Mumbai-based ShopSe, a fintech platform offering instant EMI, has raised $6.1 million as part of its Series A funding from investors, including BEENEXT, Chiratae Ventures, and White Venture Capital, a fund backed by Amrish Rau and Jitendra Gupta.
The latest funding comes a year after ShopSe raised $5.5 million as part of its seed round in April 2021.
The startup will use the fresh capital raised to accelerate its services to 150,000 more retailers, grow its team and lender partnerships, and further enhance platform capabilities to enable over 45 million Indian consumers with convenient affordability, it said in a statement.
Founded in 2020 by former PayU employees Pallav Jain, Abhishek Nimonkar, and Yagnesh Desai, ShopSe’s pay-later marketplace provide instant customizable credit solutions at the point of purchase.
INDIA DEAL MONITOR
Here are the prominent venture capital transactions in India announced between May 25-27, 2022.