Payment platform and PF Stripe has led a $102 million funding round in startup Fast, a company that enables “one-click” shopping online.
The primary offering from Fast is its Fast Checkout product, a purchasing process that does not require a password or manual data entry for every order. Buyers are automatically signed up for Fast after their first purchase with the payment option, the company said in a press release. Sellers can even use Fast Checkout on individual product pages, so buyers can skip the shopping cart altogether.
Fast plans to use the new capital to expand its product reach, the company said. Its Fast Checkout product is available to users of WooCommerce and BigCommerce, with more ecommerce platforms to come. It also plans to use funds from the round to expand its team.
This funding round is the second time Stripe has invested in Fast, having also participated in the company’s Series A round, which raised $20 million in March last year. However, according to the San Francisco Business Times, that doesn’t mean there is a Stripe acquisition in its future.
“Stripe has been an incredible partner to Fast, supporting us with investments of capital and ideas for over a year. That said, Fast remains committed to being an independent company as we bring one-click checkout to the entire internet. We have no interest in being acquired by anyone,” Fast Chief Communications Officer Jason Alderman told the publication.
Venture capital firm Addition also led the round, which also saw participation from Index Ventures, Susa Ventures, Sugar Capital and Jaren Glover.
The Fast funding round joins other recent tech investments. including some in online commerce, financial technology, and the vertical software provider space.
Tech startup BlackCart has raised $8.8 million in funding for its platform that allows consumers to try or test merchandise before purchasing, according to TechCrunch. With the BlackCart platform, buyers can keep items for a trial period – an amount of time chosen by the retailer – before they are charged for them. The company handles vetting the consumer for fraud risk and accepts liability for any fraud. It charges its retail customers a percentage of the final sales.
Also, Reuters reported that digital payments provider Melio has raised $110 million in a new round of funding. The company helps small businesses manage payments to their suppliers, enabling them to pay invoices using bank transfers or debit cards.
And finally, TechCrunch also reported on a $70 million Series C round for Booksy, a booking app for the beauty and wellness industries. The company plans to use the funds to expand into new verticals and acquire other similar businesses, it said.