Commerce News

PayPal Ventures, Synchrony, Amex Ventures and Okta Ventures Back Frictionless Checkout Provider, Skipify

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Skipify, a leader in Frictionless Commerce that enables instant checkout on merchant websites and marketing channels, announced a strategic investment round from PayPal Ventures, Synchrony, Amex Ventures and Okta Ventures. This round, in addition to the recent Series A co-led by Flourish Ventures and Point72 Ventures, follows Skipify’s partnership with Google to enable shopping and interactive features inside the email channel.

Skipify’s Modern Checkout Stack provides merchants with the tools needed to offer instant checkout across their website, marketing channels and apps. Instant checkout experiences continue to gain adoption with shoppers and brands alike, nearly doubling conversion rates on mobile devices.

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“The shift in consumer behavior from laptops to mobile devices has triggered the shift from typing into tapping,” said Ryth Martin, Founder and CEO of Skipify. “However, the standard checkout process online still remains dependent on nearly 2 minutes of typing from shoppers. Skipify fixes that.”

With the benefit of Skipify’s investors and strategic partners, Skipify is poised to unlock Frictionless Commerce for hundreds of millions of shoppers and tens of millions of merchants in the years to come.

“Synchrony is focused on delivering superior customer experiences that help our partners attract and retain new customers, while increasing the amount existing customers spend.” Said Michael Bopp, EVP and Chief Growth Officer at Synchrony. “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.”

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The new funds raised allow Skipify to more rapidly enhance their core product and infrastructure, helping merchants elevate their shopper’s checkout experience. Skipify is hiring aggressively for its product and engineering teams.

“We are honored to partner with Skipify. The company’s core technology democratizes 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,” said Emmalyn Shaw, Skipify Board Member and Managing Partner of Flourish Ventures.

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[To share your insights with us, please write to sghosh@martechseries.com]

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