Long before the Covid Pandemic swept the world, Bold Commerce was already one of Winnipeg’s fastest-growing and best-funded financial technology startups.
Years after securing a $22 million Series A round from Whitecap Venture Partners and Round13 Capital, the Manitoba fintech is still maintaining momentum.
This month the ecommerce solutions provider announced the launch of a “checkout accelerator” that directly integrates checkout into marketing experiences such as videos, emails, and more.
Developed by Coalition Technologies on Bold Checkout, the technology bypasses the traditional ecommerce journey by incorporating all purchasing necessities into the checkout process.
The goal is to increase conversion rates, average order value, and customer lifetime value by introducing curated purchase and upsell opportunities at the point of highest shopper interest, according to a statement from Bold.
The accelerator also aims to simplify the process by introducing upsells directly in the shopping cart before and after the order is placed, encouraging shoppers to add more items.
“Shoppers’ buying journeys need to start when they’re ready—not when brands are,” believes Peter Karpas, CEO of Bold Commerce. “We’re enabling brands to not only launch and optimize checkout on marketing channels but start to shift from a conversion-only mindset to one that also prioritizes average order value and customer lifetime value to drive revenue.”
One feature is the ability to create purchase opportunities directly in video content, allowing viewers to buy the product they see while still watching the video. This reduces the chance of shoppers forgetting about the product.
Another capability is subscription, enabling shoppers to finalize subscriptions directly from an email without any redirection to external pages. This process enhances the experience by eliminating unnecessary steps.
The accelerator is set to be launched on BigCommerce, but can be integrated by retailers on any platform. It leverages PayPal Complete Payments to accept a variety of payment options, including PayPal, Venmo, PayPal Pay Later solutions, and credit and debit cards.
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