Fuelled by the pandemic, there has been an unparalleled uptick in online shopping sales in France. Valued at more than €112 billion in 2020, French e-commerce is expected to double in volume by 2026.
And yet, online shopping is reeling under the effect of many pitfalls such as account creation and purchasing processes that are deemed time-consuming by customers. As a result, the average cart abandonment rate remains high.
Enter JUST which has developed a 1-click purchasing solution to solve these issues and boost online shopping sales considerably. And to do, the French retail tech has raised €3 million in funding.
The Series A round was led by Otium Capital as well as angel investors such as Didier Valet (former deputy CEO Société Générale Group), Jon Oringer (founder of Shutterstock), Edward Lando (founder of Pareto Holdings), Arthur Waller (co-founder of Pennylane) and Nima Karimi (co-founder of Silvr).
Founded in 2021 by Jérémy Pinto and Benjamin Cohen Aloro, the French fintech specialises in payment solutions for e-merchants specifically in France. According to the startup, its one-click purchasing solution enables e-merchants to increase their conversion rate by 20% and considerably simplify the customers’ purchasing journey.
JUST plans to look beyond its home turf and expand into other parts of Europe by 2023. As of now, over sixty online stores and digitally-native vertical brands (DNVBs) are using the startup’s technology.
Jérémy Pinto, co-founder of JUST said: “The one-click shopping experience has been used for over 20 years by Amazon and contributed to its success. With JUST, we want to democratise this shopping ]experience for all e-merchants who lose an average of 42% of their customers due to an overly complex purchasing journey. In addition, our solution is 100% French and evolving in compliance with European GDPR and DSP2 standards.”
Jérémie Bordier, venture partner at Otium Capital added: “The one-click shopping experience is addictive and will clearly become an e-commerce standard in the years to come. JUST offers a universal solution for this need, that works on the web and mobile applications regardless of the type of hardware.”