Fast has announced a USD 20 million Series A funding round led by Stripe, with additional participation from existing investors Index Ventures and Susa Ventures.
Fast will use the investment to accelerate the global launch of Fast Checkout, its universal one-click purchase product for ecommerce, and to further grow its product and engineering teams.
Fast Checkout will launch in the coming weeks and complement Fast Login, Fast’s free-to-use one-click login tool. With Fast Checkout, consumers are able to complete purchases with a single click on any browser, platform, or device.
In 2019, the USD 3.5 trillion global ecommerce market struggled with shopping cart abandonment for up to 80% of potential purchases, largely due to friction during checkout. At the same time, consumers are forced to fill out an average of 23 fields just to make a single online purchase. Fast eliminates the need of remembering passwords and inputting payment information. Fast Checkout aims to enable secure, one-click transactions on all Fast-enabled sites.
The company’s products work on any browser, device, or platform to deliver a consistent purchasing experience. Fast is entirely consumer-focused and invests heavily in its users’ privacy and data security. Headquartered in the US, Fast is a privately held company funded by Stripe, Index Ventures, Susa Ventures, Kleiner Perkins, Global Founders Capital, and Brian Sugar.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now