# Newbazaar Technologies Pvt

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/newbazaar-technologies-pvt

- Industry: Financial Services
- Headquarters: Mumbai, India
- Website: www.getshopse.com
- Total disclosed funding: $11M
- Latest round: Series A (Jun 18, 2022)
- Investors on record: 6

## About

Newbazaar Technologies Pvt Ltd, based in Mumbai, India, operates as a financial technology firm specializing in providing digital EMI solutions that simplify consumer purchasing processes across various sectors.Founded in 2019, Newbazaar Technologies Pvt Ltd offers innovative financial solutions tailored to consumer needs. The company has conducted four deals, with the latest funding round being a Secondary Stock Purchase on July 1, 2022, where Chiratae Ventures invested USD 290,000. The company has raised a total of USD 390.38 mn to date. The CEO, Pallav Jain, along with co-founders Abhishek Nimonkar, Aishwarya Chordia, and Yagnesh Desai, has a history of driving technology initiatives within the financial sector.ShopSe operates as India’s largest digital EMI marketplace, offering a flexible payment solution for consumers. Their core product enables users to shop across diverse categories including electronics, furniture, e-vehicles, education, health, and wellness through a network of over 40,000 merchants and partnerships with more than 200 brands and 10 banks/NBFCs. Customers utilize the platform by scanning a QR code to choose an EMI plan tailored to their purchasing needs, allowing them to manage payments at their own pace. This service is designed to provide a seamless shopping experience by eliminating traditional barriers such as interest rates, processing fees, and down payments, thus addressing the needs of consumers seeking affordable financing options. ShopSe's offerings are primarily targeted at the Indian market, where it continues to expand its reach and service offerings.In 2023, Newbazaar Technologies Pvt Ltd reported a revenue of USD 7.49 mn with an EBITDA of USD -4.66 mn. The company's revenue model is driven by transaction fees and partnerships with retailers and lending institutions, facilitating transactions between consumers and merchants with EMI financing solutions that allow immediate access to goods while providing flexible payment options.Looking ahead, Newbazaar Technologies Pvt Ltd aims to enhance its product offerings and expand its market presence. Recent funding will be allocated towards developing new financial products and improving existing services. The company is also exploring entry into additional regions within India to broaden its customer base by the end of 2023. The strategic investment from Chiratae Ventures will support these initiatives, facilitating continued innovation and expansion efforts.

## Funding rounds

- Series A, Jun 18, 2022, $5M — Chiratae Ventures, BEENEXT, White Venture Capital
- Seed, Apr 9, 2021, $5.6M — Chiratae Ventures, BEENEXT, Yatra Angel Network, Pentathlon Ventures, Opus Capital

## Investors

- Chiratae Ventures (https://capitalatlas.ai/funds/chiratae-ventures) — Seed, Series A
- BEENEXT (https://capitalatlas.ai/funds/beenext) — Seed, Series A
- Yatra Angel Network (https://capitalatlas.ai/funds/yatra-angel-network) — Seed
- Pentathlon Ventures (https://capitalatlas.ai/funds/pentathlon-ventures) — Seed
- Opus Capital (https://capitalatlas.ai/funds/opus-capital) — Seed
- White Venture Capital (https://capitalatlas.ai/funds/white-venture-capital) — Series A