London-based Simpler, which provides a 'checkout-as-a-service' platform that streamlines the checkout process for merchants and shoppers by integrating payments, shipping, and loyalty programs, has raised €9 million in a pre-Series A round to transform checkout across Europe, particularly in the UK, Italy, and Spain. The funding was backed by VentureFriends, MMC Ventures, and Lamda Development.
- Founded in 2021 by Rania Lamprou, Alex Kyriakopoulos, and Spyros Mandekis, Simpler offers a 'checkout-as-a-service' platform that enables merchants to integrate payments, shipping, and loyalty programs into a single system, simplifying operations and boosting conversions, while providing customers with a seamless, one-click buying experience across multiple stores and channels.
- To date, Simpler has over 250 merchants and more than half a million registered shoppers. The platform speeds up checkout by 50%, registers 31% more customers, offers 4x more payment methods, and increases repeat purchases by 20% with its Simpler Coins rewards system.
Details of the deal
- The pre-Series A round was backed by VentureFriends, a European venture capital firm that supports early-stage startups by investing in Seed and Series A rounds. MMC Ventures, a London-based VC focused on tech startups, and Lamda Development also participated in the round.
- The €9 million investment will help Simpler expand into new European markets, including the UK, Italy, and Spain, develop its platform, and grow its business, enabling merchants of all sizes to benefit from Simpler's unified checkout solution.
