Fintech
Fintech Company Just Plans to Expand into the UK after Raising 8 Million Euros
Just, a fintech company offering a one-click payment solution, raised €8M to boost R&D, expand its merchant base, and open a London office in 2025. Supporting 500 merchants since 2022, its plug-and-play checkout drives 10-15% revenue growth. Just aims for €20M turnover in 24 months, profitability in three years, and future U.S. expansion.
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?
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(Featured image by QuinceCreative via Pixabay)
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First published in Finyear. A third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.
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