Fintech Company Just Plans to Expand into the UK after Raising 8 Million Euros

Just, a fintech company specializing in check-out for e-retailers, has just unveiled an 8 million euro fundraising led by Backed with the participation of Daphni, Otium and Kima ventures. Otium was already an investor since the fundraising carried out by Just in June 2022. That is, shortly after the creation of the startup by Jérémy Pinto and Benjamin Cohen.

Thanks to this fundraising, the startup plans to move up a gear, notably by opening an office in London during the first half of 2025. A way to conquer brands that are not very present in our territory in addition to the 500 merchants who already trust it today.

Which e-retailer has not tried to improve their conversion rates? You know, that famous shopping cart that remains abandoned by the customer? This is what Just has been offering since 2022 to 500 merchants, a one-click payment solution, connected to the bank card network, i.e. a “plug & play checkout” solution.

“We wanted to bring a unique shopping experience to France close to what Amazon or Tao-Bao in China can do. In this country, 50% of purchases are made online while in France, this penetration rate is only 15% “relates Jérémy Pinto, co-CEO and co-Founder of Just, who notes that in France, “e-commerce is broken.” “Among other things, it lacks a social selling brick while the market is reaching a generational inflection point.”

French merchants using the Just solution would thus make between 10 and 15% more turnover

Supported since its first fundraising by renowned Business Angels such as Didier Valet (former CEO of Société Générale) or Arthur Waller, co-founder of the unicorn Pennylane who came to strengthen Otium Capital, the fintech has once again secured a nice round of funding.

Just has just revealed an 8 million euro fundraising led by Backed with the participation of Daphni (the VC co-founded by Marc Simoncini), Otium (Pierre-Edouard Sterin) and Kima Ventures (Xavier Niel) reinforced once again by a pool of business angels including newcomers: Edward Lando and Charlie Songhurst.

So, in concrete terms, what should this fundraising be used for? Of course, to deploy services to e-retailers and therefore to invest in R&D. Another job? Conquering new horizons with the announced opening of an office in London (team recruitment underway) by the end of the first half of 2025. An office that could serve as the beginnings of a future American conquest.
And, another planned deployment aspect: conquering larger retailers like our national brands (Decathlon, Sephora, Carrefour, etc.).

“Profitability is a parameter like any other. The question is: where do we put the cursor? Concretely, thanks to our business model, we would be able to be profitable in three months. The value that we bring to our customers is higher than our pricing level. Currently, we have real innovation projects. And fundraising allows us to compress the time to move faster. My goal would be to make 1 billion in transactional flow. So, we should reach 20 million in turnover within 24 months and reach profitability within three years ” or on the eve of a next fundraising?

__

(Featured image by QuinceCreative via Pixabay)

DISCLAIMER: This article was written by a third party contributor and does not reflect the opinion of Born2Invest, its management, staff or its associates. Please review our disclaimer for more information.

This article may include forward-looking statements. These forward-looking statements generally are identified by the words “believe,” “project,” “estimate,” “become,” “plan,” “will,” and similar expressions. These forward-looking statements involve known and unknown risks as well as uncertainties, including those discussed in the following cautionary statements and elsewhere in this article and on this site. Although the Company may believe that its expectations are based on reasonable assumptions, the actual results that the Company may achieve may differ materially from any forward-looking statements, which reflect the opinions of the management of the Company only as of the date hereof. Additionally, please make sure to read these important disclosures.

First published in Finyear. A third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.

Although we made reasonable efforts to provide accurate translations, some parts may be incorrect. Born2Invest assumes no responsibility for errors, omissions or ambiguities in the translations provided on this website. Any person or entity relying on translated content does so at their own risk. Born2Invest is not responsible for losses caused by such reliance on the accuracy or reliability of translated information. If you wish to report an error or inaccuracy in the translation, we encourage you to contact us