India’s leading Revenue Based Financing platform, Klub, announced today its partnership with SaaS platform Shopflo. With this partnership, Klub would 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 founders realised D2C merchants see approximately 70 percent customer drop off between add to cart and purchase steps. This is the highest impact step for conversion interventions. Shopflo 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.
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Earlier this year, Shopflo raised $2.6 million in a 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, 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. The platform has served 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.
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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.”
About Shopflo
Shopflo aims to supercharge conversions for e-commerce websites at checkout by improving user experience, helping build stronger intent and trust during the purchase. There is a fundamental unbundling of monolith shopping cart platforms globally for mid-market and enterprise customers, who are moving towards headless (read modular) architecture. Shopflo aims to be the global default for checkout experiences. Nova Nova, Anveshan, Yoga Bar, and 30+ brands across categories have already optimised their checkout with Shopflo.
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About Klub
Klub, India’s leading Revenue Based Financing platform, provides flexible funding up to Rs. 30 crores to digital businesses and SMEs with recurring revenue. The company partners with leading NBFCs, HNIs, financial institutions, and its own SEBI registered fund to provide growth capital. Klub offers different capital structures for businesses across all stages (early, growth & late) for recurring marketing, inventory, and capex expenses. The company has deployed more than 700 investment rounds enabling growth for 300+ brands across India. Klub raised $20 million in seed funding from Sequoia Capital India’s growth program Surge, US-based Alter Global, Japan-based GMO VenturePartners, and 9Unicorns in 2021.
