ShopSe

ShopSe is India’s largest digital EMI marketplace, revolutionizing point-of-purchase financing through its Buy Now, Pay Later (BNPL) platform. The company bridges lenders, retailers, and consumers to enable instant, no-cost EMI solutions. ShopSe integrates seamlessly with both online and offline retailers, offering flexible payment options (Credit Card EMI, Pre-approved EMI, Credit on UPI) while reducing checkout drop-offs by 40% through real-time lender compatibility checks.

Core Products and Services

• Instant No-Cost EMI: Cardless, paperless EMI solutions at 0% interest, with tenures up to 24 months.

• Lender Compatibility Check: Single-form digital eligibility assessment across 10+ lenders (HDFC Bank, ICICI Bank, IIFL).

• Omnichannel Integration: Unified API for online merchants and POS solutions for offline retailers.

• Credit on UPI: Direct UPI-linked credit for underserved segments, bypassing card dependencies.

• Dynamic Payment Switch: Auto-fallback to alternative payment modes if a transaction fails, reducing drop-offs by 35%.

Key milestones

• Raised $11.6 million across seed and Series A rounds (2021–2022), backed by Chiratae Ventures, BEENEXT and White Venture Capital.

• Partnered with 200+ brands (Voltas, Asus, Whirlpool) and 40,000+ retailers across 500+ locations.

• Became the first Indian fintech to enable Credit on UPI for new-to-credit customers, broadening financial inclusion.

• Achieved 300% YoY growth in FY23, processing over ₹1,200 crore in GMV.

Business Model & Revenue Streams

• Merchant Fees (70% of FY24 revenue): Charging retailers 1–3% per transaction.

• Lender Commissions (20%): Revenue share from banks/NBFCs for customer acquisition.

• Subscription Fees (5%): Premium analytics tools for enterprises.

• Brand Partnerships (5%): Co-marketing campaigns with brands like Britannia and Tata Capital.

Geographic mix

• Urban India: 65% of revenue (Mumbai, Delhi, Bengaluru).

• Tier 2/3 Cities: 35% (growing at 55% YoY).

Customer segmentation

• B2B (90%): Enterprises (60%), SMEs (30%), government bodies (10%).

• B2C (10%): Direct consumer app for loan management.

Top Clients & Partnerships

• HDFC Bank & ICICI Bank: Core lending partners, contributing 30% of transaction volume.

• Voltas & Realme: Top brand partners using ShopSe’s EMI solutions for 25% of their online sales.

• Infibeam Avenues (CCAvenue): Embedded BNPL across 4 lakh+ merchant websites.

• Sports Authority of India (SAI): Digitized financing for sports equipment in 200+ training centers.

• KITVEN Fund: Government-backed funding to expand rural affordability solutions.

• NPCI: Collaborated on UPI-linked credit innovations.

Future Outlook & Strategic Priorities

• Lender Network Expansion: Adding 5+ NBFCs to serve underserved segments (reflecting RBI’s digital lending guidelines).

• Product Innovation: “Pay with Rewards” feature, allowing loyalty points to offset EMIs (Q4 2025 launch).

• Geographic Reach: Targeting 1 lakh+ retailers by 2026, with 50% from Tier 3/4 cities.