French startup JUST raises €3 million
Startup JUST, which enables a one-click checkout for online stores, raised 3 million euros in seed capital. The solution can increase conversion by nearly 20 percent, according to the company. The one-click checkout landscape is highly competitive.
JUST was founded in 2021 in Paris. The business eliminates checkout steps such as repeated logins and forms, offering a one-click solution for repeat customers. Ecommerce giants like Amazon, Shopify and Paypal have previously launched their own one-step checkout.
With the newly raised seed capital, JUST wants to expand into Europe by next year. In addition, the startup wants to hire 30 extra employees. Currently, over 60 brands use the service from JUST.
The startup wants to expand into Europe by 2023.
“The one-click shopping experience has been used for over 20 years by Amazon and contributed to its success”, co-founder Jérémy Pinto says. “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.”
Nearly 70% of shoppers abandon cart
After placing an order with JUST, customers have 5 minutes to adjust or cancel their purchase. According to the company, their one-click service can enhance conversion rates by 19 percent and lessen cart abandonment by roughly 30 percent.
According to JUST, it can increase conversion by 19%.
Previous research by the Baymard Institute shows that global cart abandonment sits at nearly 70 percent worldwide. And according to The State of European Checkouts 2021, 1 in 5 European online shoppers will cancel a purchase if checkout takes more than one minute.
Highly competitive market
The one-click checkout is not new: Amazon has long held the patent for the feature, which expired in 2017. Ecommerce giants like Shopify and Paypal have since launched their own frictionless checkouts, as well as startups like Bolt, Volume and Fast.
Shopify and Paypal have launched their own frictionless checkouts.
The latter recently shut down operations in April, though, due to lagging results. And competitor Bolt is currently facing layoffs, like most startups in the tech sphere. The checkout market JUST is now entering, therefore, has become highly competitive.