Business

Brazil's answer to Bolt, Compra Rapida raises BRL 4 million round led by Iporanga Ventures

Compra Rápida is currently focused on Brazil, but the startup considers expanding its operations to other Latin American countries in the medium term

The engineers and founders of Compra Rápido, Rafael Gibelli and Mário Marcoccia.
The engineers and founders of Compra Rápido, Rafael Gibelli and Mário Marcoccia. Photo: Courtesy.
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  • Through Compra Rápida’s solution, consumers register only once and can make purchases with just one click on all portals that use the platform;
  • With this solution, the startup promises its merchants a checkout 52% faster and an increase of up to 44% in the conversion of purchases.

Compra Rapida, a Brazilian startup that developed a one-click-buy solution, has just raised a BRL 4 million (around $709,000) round led by Iporanga Ventures. The round also had the participation of Verve Capital and angel investors, in addition to Y Combinator – the startup is participating in the accelerator’s next batch.

According to the startup, the new funding will be used to expand the startup‘s technology and product teams.

READ ALSO: Y Combinator will now give a $500,000 check to any company that enters its program

Compra Rápida started operating in June 2021 and, since then, it says it has seen the number of e-commerce clients using its solution grow eight times – the company does not reveal, however, how many customers it has at the moment.

Through Compra Rápida’s solution, consumers register only once and can make purchases with just one click on all portals that use the platform. With this solution, the startup promises its merchants a checkout 52% faster and an increase of up to 44% in the conversion of purchases. The startup obtains its revenue by charging a small percentage on new purchases from already registered customers. This fee may vary according to the volume of purchases transacted by each merchant.

READ ALSO: Latin American e-commerce to skyrocket 37% in 2021, shows EBANX’s Beyond Borders 2021/2022 study

Before founding Compra Rápida, engineers Mário Marcoccia and Rafael Gibelli worked at companies such as Bain & Company, the HRtech Allya, and the Brazilian food tech startup LivUp.

“We’ve noticed that companies spend a lot of resources to improve their checkouts. We were able to offer this ready-made solution, at much lower costs and bringing superior results,” said Marcoccia in a press statement. “We are very well positioned being the first in Latin America to do this,” he said in reference to Bolt, the US-based startup that offers the same type of solution and is already valued at $6 billion.

READ ALSO: LatAm’s answer to Shopify, Nuvemshop announces $10 million fund

“By increasing the stores’ NPS, the platform also increases e-commerce performance and sales rates in general. Considering the pace of digital commerce in Brazil and Latin America as a whole, the startup’s potential for scale is gigantic,” said Leonardo Teixeira, partner at Iporanga Ventures, also in a press release.

Compra Rápida is currently focused on Brazil, but the startup considers expanding its operations to other Latin American countries in the medium term.

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