Stripe has led a $20 million Series A funding round in San Fransisco-based one-click payments startup Fast.
Designed to overcome the problem of shopping card abandonment, Fast Checkout enables consumers to complete purchases with a single click on any browser, platform or device.
The product, set to launch in the coming weeks, will complement Fast Login, the company's free-to-use one-click login tool.
Fast says it will use the investment to accelerate the global rollout of Fast Checkout and to further grow its product and engineering teams.
“This funding rapidly accelerates Fast’s ability to improve the checkout process for billions of people and businesses around the world,” said Fast CEO and co-founder Domm Holland. “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.”
Stripe was joined by Index Ventures and Susa Ventures in the funding round.
“Fast is taking a novel approach to improving the login and checkout process for online businesses,” says Jordan Angelos, head of corporate development at Stripe. “We support their vision to remove friction from internet commerce wherever possible.”