FERO raises $3M Seed Round to Pioneer Online Payment Solutions
Summary
Todays one size fits all approach to the checkout experience and payment journey is a significant barrier to purchase conversion. Today, upwards of 45% of customers place items in their shopping cart, but never finalise their purchase due to payment related issues. This translates to over $5.2 trillion of lost revenue per year, explains Craig Savage, Co-Founder and CEO, FERO. We founded FERO to help retailers deliver a more seamless and customised shopping experience to their customers.FEROs solution analyses each shopper, their behaviour and activity, to predict the likelihood of purchase completion. Its exciting to see the FERO team take a unique approach that leverages behaviour analytics to deliver purchase solutions that will improve the shopping experience and drive revenue for retailers.With the capital from this seed round, FERO will build out its team across Europe and the US, and further enhance its product offerings to serve more retailers around the world.