With ecommerce booming across Europe, consumers are increasingly looking for a seamless experience. Giving digital businesses the chance to offer 1-click payments, JUST has just picked up €3 million.
Launched only 6 months ago, French startup JUST wants to empower businesses to increase their conversion rate by simplifying the consumer purchasing experience. The company just raised €3 million in its first financing round.
The funding was led by Otium Capital as well as prestigious business angels such as Didier Valet (Former Deputy CEO Société Générale Group), Jon Oringer (Founder of Shutterstock), Edward Lando (Founder of Pareto Holdings), Arthur Waller (Co-founder of Pennylane) and Nima Karimi (Co-founder of Silvr).
Founded in Paris by Jérémy Pinto and Benjamin Cohen Aloro, JUST specializes in payment solutions for ecommerce players. The fintech startup offers a 1-click purchasing solution that can help increase conversion by a reported 20% on average as it streamlines the whole customer journey.
Ecommerce is booming across Europe and in France alone, the market was valued at over €112 billion in 2020. It’s expected to double by 2026. It’s a phenomenon that has been accelerated by the pandemic but represents a massive shift in consumer habits and patterns. Despite the massive popularity of online shopping, it’s still something facing many pitfalls and frustrations for consumers. Account creation and purchasing processes are key sitkcing points. As a result, the average cart abandonment rate remains high.
JUST have developed an innovative 1-click purchasing solution to shake up the sector, solving existing issues and boosting online shopping sales considerably. With JUST, customers no longer need to set up an account, log in, and fill in the same information over and over again for every purchase they make. So many steps that erode the customer’s shopping experience and increase cart abandonment rates.
Jérémy Pinto, co-founder of JUST said: “The one-click shopping experience is the most appreciated by online buyers. It has been used for over 20 years by Amazon and contributed to its success. With JUST, we want to democratize this shopping experience for all e-merchants who lose an average of 42% of their customers due to an overly complex purchasing journey. In addition, our solution is 100% French and evolving in compliance with European GDPR and DSP2 standards, which is a true asset for French customers, who are more and more aware about these issues.”
Already the young startup is being trusted by about 60 e-merchants to fuel payments. On average the brands, which include L’Avant-Gardiste, Puissante and Noo, have seen a reported 19% conversion rate increase, card abandonment rate decrease by 11%, and, consumers able to make purchases much quicker.
Looking to the future, the french fintech disruptors clearly have a promising journey ahead. The funding will be used to facilitate 1-click online purchasing by recruiting around thirty employees, before expanding to Europe by 2023.
Jérémie Bordier, Venture Partner at Otium Capital said: “The one-click shopping experience is addictive and will clearly become an e-commerce standard in the years to come. JUST offers a universal solution for this need, that works on the web and mobile applications regardless of the type of hardware. We are very happy to support JUST in its mission to simplify the purchasing journey.”