Passo, an application which enables shoppers to share and manage their personal shopping preferences and payment/shipping information with retailers, has raised a $1.1 million Seed Round with the help of SeedInvest.
Through Passo’s API, retailers 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 helped lift the burden of finding investors so I could concentrate on building my business,” said Passo CEO Steven 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.”
SeedInvest investors invested alongside Deep Fork Capital and various well-known angels.
“Passo has the right mix of cutting edge technology and an experienced team to tackle a key problem facing retailers today,” says SeedInvest Investment Director Aaron Kellner. “After shopping around the retail tech space, we are confident that we found a compelling investment opportunity in Passo.”