Fintech Skipify has announced that the company has secured multiple investor deals from the likes of PayPal Ventures, Synchrony, Amex Ventures, and Okta Ventures.
This fresh stream of funds, combined with the recent Series A investment round from Flourish Ventures and Point72 Ventures, as well as Google’s involvement in the company’s operations, underlines the potential of Skipify’s proprietary technology.
It enables merchants and marketing channels to incorporate a Frictionless Commerce option aimed at simplifying the customer journey. This is done through the company’s Modern Checkout Stack toolkit which allows for instant checkouts on both websites and apps. Such offering has grown in popularity amongst brands and customers, driving conversion rates on mobile devices to almost double in size.
Ryth Martin, Skipify CEO and Founder, commented: “The shift in consumer behaviour from laptops to mobile devices has triggered the shift from typing into tapping. However, the standard checkout process online still remains dependent on nearly 2 minutes of typing from shoppers. Skipify fixes that.”
With the new investments pouring into the company, Skipify will now focus on further refining the instant checkout experience brought by its core product. Currently, the fintech is actively looking to increase its product and engineering teams.
Praising their new partner, Michael Bopp, EVP and Chief Growth Officer at Synchrony, added: “Synchrony is focused on delivering superior customer experiences that help our partners attract and retain new customers, while increasing the amount existing customers spend.
“Our partnership with Skipify helps deepen our long-term strategy to create innovative point of sale solutions – in this case by adjusting to new shopping habits and consumer behaviors we’re seeing in the market.”
A comment was also issued by a second investor. Emmalyn Shaw, Managing Partner of Flourish Ventures and Skipify Board Member, stated:
“We are honoured to partner with Skipify. The company’s core technology democratises instant purchasing for millions of merchants while simultaneously giving a more superior experience for online shoppers.
“The recent strategic round positions Skipify to lead the express checkout movement across all digital modes of engagement.”