Amsterdam-based FERO raises €2.8 million to tackle the huge annual revenue merchants lose at checkout
Summary
FERO, a startup on a mission to transform online checkout and deposit journeys, announced the successful closure of a €2.8 million seed round from Coatue, Volta Ventures, and Antler. This capital will enable FERO to expand and enhance its unique online payment solution to tackle the $5T of annual revenue merchants lose at the point of checkout. While participating in Antler’s founder residency in 2022, the team identified an opportunity to create personalised purchase preferences that would make it easier and more seamless for consumers to complete their payments. “While payment innovations have made transactions faster and more seamless, few solutions have looked at the behaviour of shoppers to understand why so many items are left un-purchased in the online shopping cart,” added Elena Sakach, Partner at Coatue. “It’s 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.”
Funding
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