ShopSe raises Rs 40 crore led by Chiratae Ventures, BeeNext

Point of Sale (PoS) platform, ShopSe has raised Rs 40 crore ($5.5 million) in funding led by Chiratae Ventures and BeeNext. Others such as Pentathlon Ventures, Opus and Abhishant Pant's Yatra Angel Network also participated in the round.

The startup specialises in providing a common digital platform between lenders and retailers for customers making point purchases at stores.

The newly raised funds will be used for strengthening its team while also scaling the startup's reach. The company has now set an aim to be present across 200,000+ retail touchpoints in the next 12 months, it said in a statement.


“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," ShopSe chief executive and co-founder Pallav Jain said.

The company said it has partnered with 10,000 retailers and several banks to offer consumer loans to over 45 million customers.

TCM Sundaram, founder and managing director at Chiratae Ventures, said, “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.”

Hero Choudhary, managing partner at BeeNext, said, "BeeNext is excited to partner with ShopSe in bringing next-generation digital EMI solution (BNPL) at retail point of sale. The founding team has a deep understanding of space resulting in a best-in-class platform for lenders and retailers. We are very impressed by the team's passion, positive feedback received from users and the speed of execution.”