Passo, an application which enables shoppers to share and manage their personal shopping preferences and payment/shipping information with retailers, has completed a $1.125 million Seed Round via equity crowdfunding platform Seedinvest. SeedInvest investors invested alongside Deep Fork Capital and various well-known angels.
Steven Gray, co-founder and CEO of Passo, commented on the crowdfunding process;
“SeedInvest helped lift the burden of finding investors so I could concentrate on building my business,” said Gray. “In addition, the involvement of the SeedInvest fund made the decision a no-brainer. I was able to raise nearly half of Passo’s funding goal in about 90 days with SeedInvest – any startup should consider that a success.”
Aaron Kellner, SeedInvest Investment Director, called the investment narrative in Passo – “compelling”.
“Passo has the right mix of cutting edge technology and an experienced team to tackle a key problem facing retailers today. After shopping around the retail tech space, we are confident that we found a compelling investment opportunity in Passo.”
Passo’s API allows retailers to gain access to shopper-verified preferences, helping them to build more powerful recommendation engines and increasing ROI on marketing and communication via reliable, current shopper data. Shoppers benefit from personally tailored shopping experiences, targeted discounts based on their personal shopping patterns, and the security of knowing who has their data with the ability to manage it at any time.
SeedInvest currently offers both Regulation D and Regulation A+ investment opportunities on its platform.
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