Shoopy Company Profile

Background

Overview

Shoopy, established in January 2020, is a Noida-based retail technology startup dedicated to empowering small and medium-sized businesses (SMBs) in India. The company offers a comprehensive suite of digital tools designed to facilitate the online transition of local retailers, enabling them to compete effectively with larger e-commerce entities. Shoopy's mission is to simplify the digital transformation journey for SMBs by providing accessible, user-friendly, and cost-effective technology solutions.

Mission and Vision

Shoopy aims to become the true technology partner for SMBs, offering tailored solutions that drive growth, efficiency, and success. By leveraging cutting-edge technologies and fostering strong partnerships, Shoopy envisions creating an ecosystem where businesses can flourish and consumers can enjoy unparalleled shopping experiences.

Key Strategic Focus

Core Objectives

Digital Empowerment: Facilitate the digitalization of SMBs to enhance their competitiveness in the e-commerce landscape.

Comprehensive Solutions: Provide an all-encompassing suite of services, including online storefronts, catalog management, order management, billing, and payment solutions.

User-Friendly Platforms: Develop intuitive and multilingual applications to cater to the diverse Indian market.

Primary Markets

Shoopy targets the vast SMB sector in India, focusing on local retailers seeking to establish or enhance their online presence. The platform is designed to cater to businesses across various industries, providing them with the tools necessary to manage and grow their operations digitally.

Financials and Funding

Funding History

In March 2021, Shoopy secured $250,000 in seed funding from US-based Campanile Investments LLC and Delhi-based Redcliffe Capital. This initial funding round aimed to optimize existing products, scale the platform, and expand business activities to reach a broader customer base.

Notable Investors

Campanile Investments LLC: A US-based investment firm.

Redcliffe Capital: A Delhi-based investment company.

Other Investors: Ajit Pai (PaiPaipal Ventures), Nitin Passi (Lotus Herbals), Manoj Mehta (MTC Group), and Sunil Kumar Singhvi (South Handlooms).

Utilization of Capital

The funds were allocated to:

Enhancing and optimizing existing products.

Scaling the platform and business operations.

Developing and launching new products and functionalities.

Pipeline Development

Product Offerings

Shoopy Business App: A free application enabling retailers and local business owners to establish an online presence swiftly and manage invoicing, billing, inventory tracking, and other essential operations.

PhoneKhata: A complimentary platform for retailers, vendors, and SMBs to manage their ledgers efficiently.

Shoopy Consumer App: An application designed to help consumers discover nearby stores, enhancing local shopping experiences.

Development Milestones

Within a year of its inception, Shoopy achieved:

A customer base exceeding 40,000 retailers and SMB owners across India.

Monthly business transactions surpassing ₹4 crore on the platform.

A 50% month-on-month growth rate.

Technological Platform and Innovation

Proprietary Technologies

Shoopy's platform integrates various digital tools to assist SMBs, including:

Online Storefronts: Enabling businesses to establish a digital presence.

Catalog Management: Facilitating the organization and presentation of products.

Order Management: Streamlining the processing of customer orders.

Billing and Payments Solutions: Simplifying financial transactions.

Scientific Methodologies

The platform leverages digital tools such as WhatsApp, Facebook, and mobile cameras to assist SMBs in their digital transformation journey.

Leadership Team

Amit Kumar

Position: Co-Founder & Board Member

Background: IIT-Roorkee alumnus with experience in India's leading online eyewear firm, where he identified the need for accessible digital solutions for vendors.

Indar Kriplani

Position: Co-Founder & Board Member

Background: Comes from a business family with a 60-year-old grocery shop. Worked at Yahoo Small Business US from 2014 to 2019 before co-founding Shoopy.

Arvind Sharma

Position: Co-Founder & Board Member

Background: Details not specified.

Competitor Profile

Market Insights and Dynamics

The Indian SMB sector has been largely unorganized and deprived of technology, presenting a significant opportunity for digital platforms like Shoopy to facilitate the digital transformation of these businesses.

Competitor Analysis