KohortPay raises 1.2M euros to reinvent the online shopping experience

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KohortPay raises 1.2M euros to reinvent the online shopping experience with payment-integrated sponsorship.

KohortPay, a Marseille-based fintech founded in 2022, is raising €1.2 million (pre-seed) to implement a new payment option that integrates sponsorship mechanics at the time of online purchase.

"Thomas Andrews, CEO - Cofounder: "We are very proud to launch this new payment option for brands. KohortPay has a real role to play in bringing the human touch and sharing back into the online shopping experience. Our investors, who include some of the biggest groups in France and abroad, including L'Occitane, Ingenico and Global Payments via Zone2Boost, a partner in the Plug & Play fund, offer not only a guarantee of the solidity of our model, but also the best way to develop mass adoption of sponsored purchasing and bring this win-win payment method for brands and their communities out of the shadows."

KohortPay, dusting off e-commerce sponsorship

KohortPay aims to accelerate the adoption of "social commerce" in Europe through sponsorship by integrating a brand new payment option into the checkout process. KohortPay's innovation at checkout enables :

• E-tailers and brands can significantly reduce their acquisition costs and increase conversion at lower cost, while enhancing the value of their communities and fans thanks to a deeper understanding of their behaviors through accurate, active data.
• Consumers and fans can enjoy an experience of sharing and collaboration with friends, while at the same time gaining purchasing power: through cashbacks, rewards and discounts applied automatically to their purchases according to the prescription they have made.

"Martin Souriau, CPO - Co-founder: "More than just a new payment method, KohortPay offers brands a new way to animate and add value to their fan communities, while boosting their business performance. This round of financing marks a significant step in our journey to transform the social commerce landscape in Europe, and will enable us to demonstrate the full impact of our solution to new customers."

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KohortPay: Pay, refer & save

KohortPay steps up a gear with a pre-seed round of 1.2M euros raised from investment funds Redstone / VR Ventures, Zone2boost which is a Plug & Play partner, Obratori (Groupe l'Occitane), BPI France and various Business Angels. This round of funding will enable KohortPay to democratize the use of sponsorship at the point of payment, first in France and then in Europe.

"Delphine Oung, Investment Manager - Obratori, investment fund of the l'Occitane group: "We decided to support KohortPay in the deployment of their sponsorship-at-payment solution because we see a clear interest in it. We see real challenges in activating customer communities for brands and customer acquisition, and KohortPay provides an innovative response to this important issue.

After initial implementations with e-retailers in 2023, this fundraising should enable the fintech tointegrate its payment solution with brands in the entertainment, ready-to-wear and cosmetics sectors in particular. On the eve of the Paris 2024 Olympic Games, KohortPay, a member of Sportech France, is also making sport its preferred playground by offering its solution to sports institutions (clubs, equipment manufacturers).

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