Bengaluru-based Klubworks, a revenue-based financing platform, has partnered with the SaaS startup Shopflo to finance merchants on the Shopflo platform.
Founded in 2021 by Priy Ranjan, Ankit Bansal and Ishan Rakshit, Shopflo offers an integration for a smooth checkout experience for direct-to-consumer (D2C) brands on their websites to improve conversion rates.
The startup offers a minimum cognitive load experience to the consumers, which helps in improving conversion rates while shopping. Nova Nova, Anveshan, Yoga Bar, and 30+ brands across categories have already optimised their checkout with Shopflo, the statement said.
Earlier this year, Shopflo raised $2.6 million in a funding round from Tiger Global and TQ Ventures. Better Capital and a pool of other angel investors also participated in the round.
Commenting on the partnership, Priy Ranjan, Co-founder of Shopflo said, “As a D2C brand, you can’t sell to a customer only once. They need to trust & believe in your story. Repeat customers need to get special treatment & that’s where we come in to help loyal customers feel rewarded.”
Klub’s full-stack embedded capital platform offers capital starting from Rs 5 lakhs up to Rs 30 crores to digital merchants. Klub claims to have served over 300 brands, including Bewakoof, Chumbak, Purple Style Labs, through 700+ investments enabling them to have single-click access to credit, customer retention, increase their GMV, and unlock additional revenues from value-added capital products.
Sudharsan Venkatakrishnan, Vice President at Klub, said, “Klub offers innovative financing to direct-to-consumer brands and has partnered with multiple high-impact players in the ecosystem. Shopflo’s offerings help solve an important problem for brands and we are happy to welcome them to our roster of partners.”
Source @Indianstartupnews
