Total amount raised
$46.1 Million
Latest funding date
10/01/2023
Location
Skipify has successfully raised funding over four rounds, with notable investors including Samsung NEXT and Flourish Ventures. The latest funding round was a Venture - Series Unknown, contributing to the company's growth in the fintech space.
Keep reading to explore the intricacies of Skipify's fundraising journey and the investors backing this innovative platform.
What Is Skipify?
Skipify is a fintech service company based in San Francisco, California, operating in the fintech, e-commerce, internet, and shopping industries. The company specializes in identity-based checkout solutions that enhance the e-commerce experience by integrating seamlessly with existing payment infrastructures.
With a team of 51-100 employees, Skipify offers products like CheckoutSDK, Embedded Components, SkipifyPaylinks, and Agentic AI Solutions. These solutions aim to increase conversion rates, improve authorization rates, and provide a variety of payment methods, ensuring a frictionless and secure payment experience for shoppers.
How Much Funding Has Skipify Raised?
- Pre-Seed Round
- Amount Raised: Not publicly disclosed
- Date: June 2020
- Lead Investors: Bee Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the development of Skipify's core technology and initial market entry.
- Seed Round
- Amount Raised: USD 11,100,000
- Date: April 2021
- Lead Investors: Flourish Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand product offerings and scale operations.
- Series A Round
- Amount Raised: USD 35,000,000
- Date: February 2022
- Lead Investors: Synchrony Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance the digital wallet services and integrate with major financial institutions.
- Series Unknown Round
- Amount Raised: Not publicly disclosed
- Date: October 2023
- Lead Investors: Samsung NEXT
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To leverage Skipify's technology for enhancing online and in-store shopping experiences.
Total Amount Raised: USD 46,100,000
Current Valuation: Not publicly disclosed
Key Investors
- Samsung NEXT
- Details: Samsung NEXT is an investment group within Samsung Electronics, focusing on innovative technologies and startups. They aim to foster growth in areas that can enhance Samsung's product offerings.
- Investment Focus Areas: Technology, startups, innovation
- Notable Investments: Various tech startups, particularly in AI, IoT, and fintech
- Synchrony Ventures
- Details: Synchrony Ventures is the venture capital arm of Synchrony Financial, focusing on investments that drive innovation in financial services. They aim to improve customer experiences and operational efficiencies.
- Investment Focus Areas: Financial services, fintech, consumer finance
- Notable Investments: CareCredit, GPShopper, Loop Commerce
- Flourish Ventures
- Details: Flourish Ventures is a venture capital firm that invests in companies promoting financial inclusion and social impact. They aim to support startups that can create meaningful change in the financial sector.
- Investment Focus Areas: Financial inclusion, fintech, social impact
- Notable Investments: Companies that promote financial inclusion and social impact
- Bee Partners
- Details: Bee Partners is an early-stage venture capital firm that invests in technology and innovation. They focus on supporting startups in their initial stages of development.
- Investment Focus Areas: Early-stage startups, technology, innovation
- Notable Investments: Early-stage tech startups and innovative companies
- Amex Ventures
- Details: Amex Ventures is the venture capital arm of American Express, investing in startups that align with American Express's strategic interests. They aim to enhance the financial technology and payments sectors.
- Investment Focus Areas: Financial technology, payments, strategic value to American Express
- Notable Investments: Stripe, Plaid, Bill.com
What's Next for Skipify?
Skipify stands at the cusp of significant growth, driven by its innovative Connected Wallet that links merchants, shoppers, and financial institutions in real-time. This technology promises to enhance both online and in-store shopping experiences, offering seamless access to payment cards and rewards, and increasing conversion rates without raising fraud risks. The involvement of major investors like Samsung Next and American Express underscores the vast market potential and scalability of Skipify's solutions.
Future fundraising opportunities appear promising, given the strong backing from prominent financial institutions and technology companies. This support lays a solid foundation for Skipify to attract further investments, enabling it to scale its technology and expand its market reach. However, the company must navigate challenges such as ensuring data security, maintaining high authorization rates, and complying with regulatory requirements across different markets.
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