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How a forgotten password led to Australiaâs latest startup success story
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Australian entrepreneur Domm Hollandâs first big attempt at building a startup ended in failure. His second - sparked by a failure to remember a Coles online shopping password -is going much better.
Fast, the online checkout platform Holland helped found in 2019 on Wednesday announced it secured $US102 million ($131 million) in fresh capital in a funding round led by payments unicorn Stripe and also backed by Addition, Index Ventures, Susa Ventures and Sugar Capital.
Stripe leads $102m funding round in US start-up Fast This is the second time Stripe has backed the San Francisco-based company
Tue, Jan 26, 2021, 15:59
Stripe has led a $102 million (€83.8 million) investment in Fast, a San Francisco-headquartered online checkout company.
This is the second time the online payments company founded by Irish brothers Patrick and John Collison has led a funding round for Fast. It previously spearheaded a $20 million investment in the company in March 2020.
Founded in 2018 by entrepreneur Domm Holland and Allison Barr Allen, previously head of global product operations at Uber, Fast has developed a platform that allows users to make quick online transactions without using passwords.
One-click checkout startup Fast draws $102 million in VC funding
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San Francisco, Dec. 14, 2020 /PRNewswire/
Fast, the world s fastest online login and checkout experience, today announced a major expansion by making its one-click Fast Checkout product available to the four million e-commerce stores on the WooCommerce platform.
When Fast Checkout was released in September, the product was made exclusively available to sellers on the BigCommerce platform. With today s move to now include WooCommerce stores, Fast is extending its reach more than 2,600% by opening up its unique one-click checkout to
29% of the world s e-commerce sellers during the crucial holiday shopping season.
Since its launch, Fast has seen significant growth – the value of merchandise purchased through Fast Checkout has more than tripled each month. To match this demand, the company has grown from two to more than 80 employees in the last 12 months and continues to hire aggressively.
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