Canadian DIY e-commerce platform Shopify which recently raised $100 mn from investors has crossed 5,000 users in India, one of its fastest growing markets.
Shopify officially launched in India in June 2013 and counts merchants like Fabmart and Madinindia among its customers. Globally, it has over 100,000 active online stores in 100 different countries.
The platform is integrated with local payment gateways such as PayU India, Direct Pay, Citrus Pay and credit cards. Shopify currently has a team of 40 people in India.
“In the next few years, India will become one of our largest markets globally,” Harley Finkelstien, Chief Platform Officer, Shopify told NextBigWhat.
Launch of EMI Facility
Shopify merchants will soon be able to offer their customers the option of paying by instalments through EMIs, the company said. Typically, smaller retailers don’t get to sell products on EMI. Shopify has partnered with payment gateway ATOM to provide this service.
Android App Coming Soon
The company is planning to launch its Android app soon. Currently, it has an iOS app for merchants to manage their stores on-the-go.
“We are trying to integrate with large marketplaces like Amazon & Flipkart so that merchants can cross sell their products on their own websites easily,” Finkelstien said.
“We are working with partners in these markets. We are also creating a network of integrators. These are web developers and web design agencies or freelancers all over India,” says Finkelstien. The company is paying a 20% revenue share in perpetuity.