What Underwaterpistol does

Underwaterpistol Ltd is a London-headquartered, privately held digital design agency founded in 2006 (incorporated earlier in 2003 per firmographic record) that specializes in Shopify Plus ecommerce engagements. The firm operates a 100% in-house team of 11-50 staff delivering six core service pillars — UX Design and Research, Design, Development, Shopify Plus Migration, Conversion Rate Optimisation, and SEO — supplemented by add-on modules covering subscription commerce (Recharge), AI consultancy, branding, loyalty programmes, tech stack consultancy, and internationalization. As one of the UK's first certified Shopify Plus Partners since 2014, the agency has accumulated a 200+ project track record across enterprise and mid-market ecommerce brands including Ooni, BrewDog, Reach PLC (Yimbly marketplace), Patou (LVMH), The Couture Club, Wilkinson Sword, LYMA, Lyle & Scott, and Arighi Bianchi.

The agency earns revenue through two streams: project-based professional services engagements (platform migrations, redesigns, custom development) and ongoing retainer/support services covering CRO, maintenance, and feature updates. Pricing is bespoke and quote-based with multi-year contract cadence; revenue is not publicly disclosed. Distribution is primarily direct via website enquiry forms supported by content marketing (blog, ebooks, #eFOMO community webinars), Shopify partner channel referrals, and organic word-of-mouth. The technical stack centers on Shopify Plus — including Shopify Markets, Shopify Flow, and Shopify Launchpad — augmented by headless commerce architecture and a deep certified partner ecosystem (Recharge, LoyaltyLion, Mirakl, Gadget, Klaviyo, Klevu, Nosto, Gorgias, Patchworks, Yotpo, Matrixify, Littledata, Swym). Notable technical achievements include pioneering the first-of-its-kind Mirakl-to-Shopify Plus integration via Gadget IaaS for Reach PLC's Yimbly multi-vendor marketplace.

The agency is founder-led, with Gary Carruthers and Nicola Carruthers as directors and co-founders. There is no disclosed institutional investment, parent company, or M&A activity. Customer concentration is moderate, with a defined portfolio of recognizable enterprise and mid-market logos spanning outdoor cooking, fashion, luxury, beverages, pet food, jewellery, and marketplace segments. The company is actively operating with current 2024-2025 case studies, blog content, and project delivery across the UK, US, EU, and Oceania.

Name

Underwaterpistol

Legal name

Underwaterpistol Ltd

Website

https://underwaterpistol.com

Company type

Private

Founded year

2006

Operating status

Operating

Headcount range

11–50 employees

Short description

Underwaterpistol is a London-based, founder-led digital design agency specializing in Shopify Plus ecommerce, offering end-to-end platform migration, custom design and development, CRO, SEO, and add-on services in subscription, AI consultancy, loyalty, and branding for enterprise and mid-market DTC brands across the UK, US, EU, and Oceania.

Ownership category

akta.pro rank

Product category

Ecommerce Web Development & Shopify Plus Agency Services

NAICS

Custom Computer Programming Services (541511), Computer Systems Design and Related Services (54151)

SIC

Services-Computer Programming Services (7371), Services-Computer Integrated Systems Design (7373)

akta.pro primary industry

Enterprise Application UX, Portals & Low-Code Extensions (BPAEAGAM)

akta.pro secondary industry

Marketplace Enablement, Seller Tools & E-commerce Infrastructure (BPAMAGAK)

Keywords

• Shopify Plus agency
• Ecommerce web design
• Platform migration services
• Conversion rate optimization
• Custom theme development

Headquarters

HQ city

London

HQ country

United Kingdom

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure

Revenue model

1. Professional Services - Project-Based Engagements: Agency provides Shopify Plus migration, design, development, and optimization services on a project basis. Clients engage for specific deliverables such as platform migration, website redesign, or feature development with defined scope and timelines.
2. Ongoing Retainer and Support Services: Continuous improvement approach with growth strategies, maintenance services, and ongoing optimization work. Agency provides post-launch support including training, performance reviews, and feature updates.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels7 records

Core offering

Underwaterpistol is a Shopify Plus specialist agency that designs, builds, migrates, and optimises ecommerce websites for enterprise and mid-market brands. Its core offering spans six service pillars — UX design and research, design, bespoke development, Shopify Plus platform migration, conversion rate optimisation, and SEO — supplemented by add-on modules including subscription commerce, AI consultancy, branding, loyalty programmes, tech stack consultancy, and internationalisation. All services are delivered in-house by a multidisciplinary team with over two decades of Shopify experience.

Product overview

Underwaterpistol is a Shopify Plus-focused ecommerce agency offering a comprehensive suite of services built around the Shopify Plus platform. The core offering consists of six main service pillars: UX Design & Research, Design, Development, Shopify Plus Migration, Conversion Rate Optimisation (CRO), and SEO Services. These are supplemented by specialized add-on modules including Subscription Commerce (powered by Recharge), AI Consultancy, Branding, Loyalty Programmes, Tech Stack Consultancy, and Internationalisation services. The agency functions as a strategic partner for brands seeking to build, migrate to, or optimize their Shopify Plus presence, with services ranging from initial design and development through to ongoing optimization, AI integration, and global expansion. All services are delivered in-house by a team with over two decades of Shopify experience, positioning the agency as a full-service Shopify Plus partner rather than a single-product vendor.

Differentiator

Problem solved

Functional benefit

Products and services

• UX Design and Research In-house UX design and research service creating seamless online experiences that strengthen brand, drive sales, and enhance customer loyalty through research-driven design, wireframes, user journeys, and implementation. Targeted at enterprise and mid-market ecommerce brands investing in Shopify Plus.
• Design Ecommerce website design service creating visually stunning sites that build trust, improve customer engagement, showcase brand identity, and drive sales through cohesive visual experiences. Targeted at brands looking to redesign or refresh their Shopify Plus storefront.
• Development Custom Shopify Plus development service delivering bespoke design, complex integrations, custom themes, and market-leading ecommerce functionality using Shopify APIs and technical extensions. Targeted at brands needing tailored Shopify Plus functionality beyond standard themes.
• Shopify Plus Migration End-to-end platform migration service moving brands to Shopify Plus from Magento, WooCommerce, or other ecommerce platforms. Includes audit, data transfer, design migration, payment processing setup, and SEO preservation. Targeted at brands constrained by legacy platforms seeking enterprise-level Shopify Plus infrastructure.
• Conversion Rate Optimisation (CRO) Data-led CRO service using multivariate testing, leakage analysis, and conversion funnel optimisation to increase revenue, profitability, and customer acquisition efficiency. Targeted at brands looking to maximise returns from their existing Shopify Plus traffic.
• SEO Services Technical and creative SEO service including competitor audits, content marketing, technical SEO implementation, and ongoing optimisation for improved search visibility and organic traffic. Targeted at ecommerce brands seeking to grow organic acquisition on Shopify Plus.
• Subscription Commerce Specialist subscription service building on the Recharge platform to enable recurring revenue, customer lifetime value maximisation, and flexible subscription box functionality with custom delivery options. Targeted at DTC brands built on recurring revenue models (e.g. Pooch & Mutt, Brew Tea Co.).
• AI Consultancy AI-powered ecommerce consultancy offering expert advisory, change management, custom chatbot development, generative AI content creation, and AI integrations aligned with business objectives. Targeted at Shopify Plus merchants seeking operational efficiency and growth through AI.
• Branding Creative branding service encompassing brand strategy, visual identity development (logo, colour palette, typography), tone of voice, messaging guidelines, and cohesive brand representation across all touchpoints. Targeted at brands undergoing repositioning or launching new ecommerce identities (e.g. Roseland Furniture, Arighi Bianchi).
• Loyalty Programmes Bespoke loyalty and rewards programme development using platforms such as LoyaltyLion, creating tailored programmes that foster customer retention, repeat purchases, and brand advocacy. Targeted at Shopify Plus brands seeking to increase lifetime value.
• Tech Stack Consultancy Technology stack evaluation and optimisation service assessing ecommerce platform, CMS, CRM, inventory management, payment gateways, and analytics tools to uncover inefficiencies and hidden opportunities. Targeted at brands seeking to rationalise or modernise their ecommerce technology ecosystem.
• Internationalisation International expansion service enabling brands to deploy multi-currency stores, international storefronts, cross-border payment processing, and localisation for global market reach. Delivered for clients including Ooni (UK, US, EU, New Zealand stores) and Patou.

Quantifiable outcome

• Average conversion rate increase of 28-100% across client projects
• +3 more outcomes

Named customers16 records

Segments4 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration17 records

AI capability5 records

Feature6 records

Partnerships

Six partnerships are on record, tiered core and strategic.

• Shopify PluscoreTechnology or Integration · 1 January 2014Certified Shopify Plus Partner since 2014, recognized as one of the UK's first Shopify Plus agencies. The partnership enables Underwaterpistol to access Shopify Plus resources, support, and referral opportunities while delivering migration and optimization services to enterprise clients.
• PatchworkscoreTechnology or IntegrationTechnology partner within the Shopify ecosystem providing integration and data connectivity solutions. Underwaterpistol leverages Patchworks to help clients unlock ecommerce excellence through seamless data flow between platforms.
• RechargecoreTechnology or IntegrationPreferred subscription commerce platform partner for implementing subscription models on Shopify Plus. Underwaterpistol specializes in Recharge integrations for recurring revenue and customer lifetime value optimization.
• LoyaltyLioncoreTechnology or IntegrationLoyalty and rewards platform partner for Shopify Plus implementing customer loyalty programmes. Successfully implemented for The Couture Club resulting in 58% increase in loyalty programme sign-ups.
• MiraklstrategicTechnology or IntegrationMulti-vendor marketplace platform integrated with Shopify Plus for Reach PLC's Yimbly marketplace. Underwaterpistol pioneered the Mirakl-Shopify integration creating a first-of-its-kind technical foundation.
• GadgetstrategicTechnology or IntegrationIntegration-as-a-Service (IaaS) platform used to manage seamless flow of orders and refunds between Mirakl and Shopify for multi-vendor marketplace operations.

Scale indicators12 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• We Make Websites: UK-based Shopify Plus Partner agency offering design, development, migration and CRO services for enterprise ecommerce brands. Directly comparable in geography, platform focus and service mix to Underwaterpistol.
• Eastside Co: UK-based Shopify Plus agency providing design, build, migration and growth services for direct-to-consumer brands. Similar boutique size, platform specialization and enterprise client targeting as Underwaterpistol.
• OuterBox: US-based Shopify Plus agency specializing in design, development, SEO and CRO for ecommerce brands. Comparable in service breadth and Shopify Plus focus, though operating at larger scale and from a different geography.
• Coalition Technologies: Large US-based Shopify Plus design and development agency offering similar end-to-end ecommerce services including migration, SEO, branding and CRO. Competes for the same enterprise and mid-market Shopify Plus engagements.
• SwiftOtter: US Shopify Plus development agency focused on custom theme development, integrations and platform migrations. Directly comparable technical service offering for enterprise Shopify Plus merchants.
• Blue Acorn iCi: Major US-based Shopify Plus agency (part of Quad) delivering enterprise design, development, CRO and personalization services. Comparable enterprise positioning and Shopify Plus specialization, though at significantly larger scale.
• The Code Company: Shopify Plus design and development agency working with premium and enterprise DTC brands. Comparable boutique positioning with strong focus on custom Shopify Plus builds and CRO.
• Absolute Web: US-based full-service ecommerce agency offering Shopify Plus design, development, migration and digital marketing services for enterprise brands. Overlapping service portfolio with comparable enterprise client targeting.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/underwaterpistol
• Instagraminstagram.com/underwaterpistol

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Underwaterpistol