PayPal Ventures backs ecommerce firm Skipify

Skipify, a company that enables instant checkout on merchant websites and marketing channels, has recently closed a strategic investment round.

Skipify was backed in the round by PayPal Ventures, Synchrony, Okta Ventures and Amex Ventures.

This round follows a recent Series A by Skipify that was co-led by Flourish Ventures and Point72 Ventures.

Skipify’s modern checkout stack provides merchants with the necessary tools to offer instant checkout across the website, apps and marketing channels.

According to PayPal, the new funds raised will allow Skipify to more rapidly enhance their core product and infrastructure and help merchants improve their shopper checkout experience. The company is also hiring aggressively for its product and engineering teams.

Skipify founder and CEO Ryth Martin said, “The shift in consumer behavior from laptops to mobile devices has triggered the shift from typing into tapping. However, the standard checkout process online still remains dependent on nearly 2 minutes of typing from shoppers. Skipify fixes that.”

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