Fast, a US-based firm that facilitates one-click checkout from e-commerce sites, has secured $20m Series A investment led by digital payments firm Stripe.
Stripe was joined by current backers Index Ventures and Susa Ventures.
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Using the infusion, Fast intends to speed up the launch accelerate the launch of its universal one-click purchase product for e-commerce called Fast Checkout.
Expected to be introduced in the coming weeks, Fast Checkout will complement Fast’s one-click login tool dubbed Fast Login.
The firm also intends to utilise the capital to increase its product and engineering team headcount.
Fast CEO and co-founder Domm Holland said: “This funding rapidly accelerates Fast’s ability to improve the checkout process for billions of people and businesses around the world.
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By GlobalData“Now, more than ever, we need to dramatically improve the e-commerce checkout experience, which has remained stagnant for 30 years.”
Fast was set up by Holland and COO Allison Barr Allen. By buying through Fast Checkout once, one can make one-click payments on all Fast-enabled sites.
Stripe head of corporate development Jordan Angelos said: “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.”
Notably, last year, Stripe raised its valuation to $35bn after securing additional funding of $250m.
