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.
