FlexFactor

FlexFactor

Financial Services

Miami, FL 2,890 followers

The world's leading purchase recovery platform for top eCommerce brands. Never Lose a Sale at Checkout.

About us

FlexFactor is the world's leading purchase recovery platform for top eCommerce brands. FlexFactor instantly reviews & recovers failed checkouts at no risk to the merchant and at no cost to the consumer. The problem: Digital commerce has a big problem which has long been accepted as fact: 10-20% of purchase attempts fail in an eCommerce shopping experience. This represents over $500B of lost revenue. Worse yet, cart abandonment is still a real problem, and over 60% of shoppers move on to another store or drop their purchase entirely after a failed purchase attempt. Existing solutions only partially address the problem: Current solutions offer marginal gains focusing on sections of the problem. Top brands use technologies like payment orchestration, multiple payment options, and tokenization to help, but these have limited results and only use limited information. Other services are entirely focused on fighting fraud, but not other checkout failure reasons, leaving 75% of overall declines unaddressed. The FlexFactor approach: Our platform offers the widest coverage and the least friction possible for a merchant. 100% of declined codes are covered using a fully embedded, real-time, and white-labeled solution. We take full liability for any transaction that is rescued by our service and settle merchants even if we have not recovered the funds from the customer, who is charged the transaction amount at no extra cost. The outcome: On average, 30% of declined transactions are prevented by FlexFactor, leading to an instant revenue increase of 5% driven by higher funnel conversion, higher customer LTV, and lower cost of acquisition. The Team: FlexFactor has assembled some of the world's best leaders in Quantitative Analytics, Risk Management, and Payments to tackle this issue and to help your brand never lose a sale at checkout.

Industry
Financial Services
Company size
51-200 employees
Headquarters
Miami, FL
Type
Privately Held
Founded
2022
Specialties
Payments, Risk Management, Fintech, Ecommerce, payment acceptance, machine learning, digital commerce, revenue optimization, LTV, and funnel optimization

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Funding

FlexFactor 1 total round

Last Round

Series A

US$ 16.8M

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