FlexFactor

United States - Miami, FL

• 11/10/2024
• Series A
• $16,800,000

FlexFactor is the world's leading purchase recovery platform for top eCommerce brands. FlexFactor instantly reviews & recovers failed checkouts at no risk to the merchant and at no cost to the consumer.

The problem:
Digital commerce has a big problem which has long been accepted as fact: 10-20% of purchase attempts fail in an eCommerce shopping experience. This represents over $500B of lost revenue.
Worse yet, cart abandonment is still a real problem, and over 60% of shoppers move on to another store or drop their purchase entirely after a failed purchase attempt.

Existing solutions only partially address the problem:
Current solutions offer marginal gains focusing on sections of the problem. Top brands use technologies like payment orchestration, multiple payment options, and tokenization to help, but these have limited results and only use limited information. Other services are entirely focused on fighting fraud, but not other checkout failure reasons, leaving 75% of overall declines unaddressed.

The FlexFactor approach:
Our platform offers the widest coverage and the least friction possible for a merchant. 100% of declined codes are covered using a fully embedded, real-time, and white-labeled solution. We take full liability for any transaction that is rescued by our service and settle merchants even if we have not recovered the funds from the customer, who is charged the transaction amount at no extra cost.

The outcome:
On average, 30% of declined transactions are prevented by FlexFactor, leading to an instant revenue increase of 5% driven by higher funnel conversion, higher customer LTV, and lower cost of acquisition.

The Team:
FlexFactor has assembled some of the world's best leaders in Quantitative Analytics, Risk Management, and Payments to tackle this issue and to help your brand never lose a sale at checkout.

Related People

Elio VitucciFounder

Monaco - Monaco

With over two decades in financial services, I have gained a hands-on experience in building and managing fast-growth, global-reach organizations.

I have a successful track record of formulating and translating strategy into impactful operational execution. My background is underpinned by hands-on experience in both developed and emerging markets, with the ability to adopt the right operating, sales, and product development models for each market.

I have created and managed the largest nano lending operation globally, issuing at its peak over 2m loans per day in over 30+ countries.

Most recently, I am the co-founder and CEO of FlexFactor, an innovative organization that blends payment optimization with innovative credit risk management with the objective of drastically reducing payment declines.

I have a great interest in the need to bring improvement and innovation in the financial services sector, under a B to B to C model.

LinkedIn https://www.linkedin.com/in/eliovitucci/?originalSubdomain=mc