Fero Payment Science, an Amsterdam, the Netherlands-based provider of a payments method system and payments solutions, raised $3M in Seed funding.
Backers included Coatue, Volta Ventures, and Antler.
The company intends to use the funds to build out its team across Europe and the US, and further enhance its product offerings to serve more retailers around the world.
Co-founded by Craig Savage and Maximilian van Boxel, Fero provides a solution that analyses each shopper, their behaviour and activity, to predict the likelihood of purchase completion. Through the sequenced application of segmentation, multi-classification prediction and reinforcement learning, it learns a shopper’s purchase preferences and delivers the most optimal payment experience. This includes individually customised payment methods and subsequent payment journeys like reducing the friction caused by 3D secure authentication challenges.
FinSMEs
02/11/2023