Fast, a platform that develops universal platform-agnostic login and checkout services for e-commerce has raised a Series A funding round of worth $20 million.
The new round has been led by Stripe, a technology company that builds economic infrastructure for the internet along with the participation of prior investors Susa Ventures and Index Ventures.
Fast has decided to use the new fund in order to accelerate the global rollout of Fast Checkout, its one-click purchase product, and to enhance its products and engineering team further.
Domm Holland, the Co-founder and CEO of Fast states, “This funding rapidly accelerates the Fast’s ability to improve the checkout process for billions of people and businesses all across the world.” He adds, “Now, more than ever, we need to dramatically improve the e-commerce checkout experience, which has remained stagnant for 30 years. We have an even greater commitment to fulfilling our mission of making buying online fast, easy and safe for everyone.”
According to Fast, its Fast Checkout will be launched within coming weeks and will complement its Fast Login, the free-to-use one-click login tool. Fast Checkout will allow the customers to complete their purchases with a single click from any browser, device or platform. The company has noted that it aims to eliminate the frustration of remembering passwords and entering payment information. Fast has also said that if an individual starts purchasing with Fast Checkout, the buyer will be able to do one-click transaction securely on all Fast-enabled sites.
Jordan Angelos, the Head of Corporate Development at Stripe stated, “Fast is taking a novel approach to improving the login and checkout process for online businesses. We support their vision to remove friction from internet commerce wherever possible.”
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