Fast builds online checkout and identity products for merchants and buyers. Its checkout service processes gross merchandise volume (GMV) that the company says has "more than tripled each month," and Fast expects that trend to continue. The company operates in a crowded ecommerce infrastructure market alongside rivals such as Bolt, Checkout.com, and Rapyd, which have also raised large rounds recently. Fast's outsized Series B comes amid rapid investor interest in improving the online commerce experience. The company has raised $124 million to date. TechCrunch noted the GMV growth provides an expectation for future progress, while also observing the growth pace is hard to rate without a baseline. Fast builds platform-agnostic, consumer-facing one-click login and checkout services that store a small set of user details to enable rapid purchases across sites. Today the company's login product is in-market while its payments/checkout service has not yet seen wide rollout. Fast positions itself as an intermediary for consumer interactions, aiming to provide one-click login, one-click payments and transferable consumer data across merchants and verticals. The company monetizes by charging customers for payment processing and keeping a spread between what it charges and what it pays Stripe. With the new capital Fast intends to accelerate the global rollout of Fast Checkout and grow its staff. Founders Domm Holland (CEO) and Allison Barr Allen (COO) lead the company as it scales product and distribution.

Total raised

$122M

Funding rounds

2

Latest round

Series B

Latest activity

Jan 2021