New US-based fintech start-up Croissant has launched with $24 million in seed funding to offer a platform that integrates with merchants’ shopping experiences, providing customers with a guaranteed buyback value at checkout, and allowing them to turn their purchased goods into liquid assets for future use.
Facts
- Croissant exits stealth mode with $24 million in seed funding from investors, including Portage, KKR, Third Prime, BoxGroup, 25madison, and Twelve Below.
- Croissant’s platform caters to the commerce sector and seamlessly integrates with merchants’ existing shopping experiences to offer customers a guaranteed buyback value at checkout.
- The platform employs data science and AI tools to generate buyback values, with Croissant fulfilling the guarantees.
- After purchase, the goods become liquid assets within customers’ Croissant accounts, allowing them to be sold later in exchange for new funds that can be used with the merchant for future purchases.
- Co-founder and CEO, John Howard, emphasizes the importance of activating consumer psychology around the purchase decision, providing benefits to both merchants and consumers without the need for actual reselling.
