Stripe has co-led a $102 million Series B funding round for San Francisco-based one-click payments startup Fast.
Stripe - which also led Fast's $20 million Series A last March - was joined as co-lead on the Series B by Addition, with participation from existing investors Index Ventures, Susa Ventures, Sugar Capital and Jaren Glover.
Launched in September, Fast's flagship product is designed to overcome the problem of shopping card abandonment by enabling consumers to complete purchases with a single click on any browser, platform or device.
The process takes less than a second, without requiring a password or manually inputting information for every order. Buyers are automatically signed up for Fast after their first purchase. Sellers can also place Checkout on individual product pages, cutting out the shopping cart process altogether.
Fast Checkout is already available to millions of WooCommerce and BigCommerce sellers, with plans to expand to more e-commerce platforms and major online retailers in the coming months.
With the latest funding, Fast says it will double down on product expansion, move into markets outside of the US and double its employee count to 200 by the end of the year.
Domm Holland, CEO, Fast, says: "The positive response we've received from online sellers who have installed Fast Checkout has been overwhelming, and the funding we are announcing today will enable Fast to meet the demand to bring one-click buying to even more e-commerce stores."