Payments start-up ZooZ raises $2m
23 April 2013 | 3671 views | 0
US mobile and online payments start-up ZooZ has raised $2 million in a series a funding round led by XSeed Capital.
Having contributed to an earlier seed round, lool ventures and Rhodium also both took part in the latest, the proceeds of which will be used to add new product functionality and build relationships with retailers and partners.
Founded in 2010, ZooZ describes itself as a consumer-driven checkout payments platform designed to help retailers increase conversion rates by reducing shopping cart abandonment for online and mobile purchases.
Last May, the firm - which claims an exponential, month-over-month growth rate - added an HTML5 mobile Web and desktop version to its iOS and Android-compatible offering, giving developers in over 150 countries a way to integrate payment functionality into their apps and sites.
Oren Levy, co-founder and CEO, ZooZ, says: "By focusing on creating a superior consumer checkout experience that ultimately leads to better conversion for retailers and developers, we've been able to clearly differentiate ourselves from the competition while attracting investors, partners and customers alike."