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Mobile commerce and payment startup ZooZ closes $2M Series A round

Mobile commerce startup ZooZ has announced that it has closed a Series A round of funding for $2 million, bringing its total funding to $3.5 million. The current round was led by XSeed Capital and also included existing investors lool ventures and Rhodium, the company said.

Israel-based ZooZ falls into a category similar to companies such as Braintree and Stripe, providing tools for developers that make payments easy to integrate into their mobile apps. Payment is a vital but complex part of building an app — and one that is often left to the developer to figure out. An increasingly competitive market has grown around servicing those development needs.

The difference with ZooZ is that its tools are intended to make payment easier for consumers as well. After all, there's no benefit to the developer in the long run if the so-easily-created payment experience turns out to be terrible for customers.

The ZooZ platform continually personalizes the checkout experience across apps, including enabling one-touch payments for customers who have made a purchase on a ZooZ-powered app. (Reducing the number of touches on tiny smartphone screens means less consumer frustration.) The result is an easier checkout and lower shopping cart abandonment on mobile devices.

"Our ability to close a robust Series A round in an increasingly crowded payments market underscores the strength and market potential of our approach," said Oren Levy, ZooZ co-founder and CEO. "By focusing on creating a superior consumer checkout experience that ultimately leads to better conversion for retailers and developers, we’ve been able to clearly differentiate ourselves from the competition while attracting investors, partners and customers alike."

ZooZ offers checkout tools for iOS and Android applications as HTML5 mobile and desktop versions and is used by developers in more than 150 countries. The company said it will use the new funds to add functionality to its platform, market to retailers and expand its presence globally.

"ZooZ has already established an impressive track record with its market-leading mobile functionality in ways that are incredibly easy for customers to implement," said Robert Siegel, the general partner of XSeed Capital. "Our investment in ZooZ highlights the confidence we have in Oren and his team and their vision to optimize and transform the entire checkout experience."

Read more about in-app payments