Groupon expects to roll out a revamped mobile app.
The vendor, which offers one-click checkout across web sites, will use the funding to expand.
Zooz has raised $12 million in a new investment round. The vendor offers hosted, one-click checkout technology with security and fraud tools built in that adapt across devices.
The 4-year-old company, based in Tel Aviv, Israel, says it will use the funding to further develop its technology and expand operations, including opening new offices.
Venture capital firm Blumberg Capital led the funding round. Blumberg Capital’s has previously invested in Yotpo, which offers ratings and reviews services to e-retailers, and numerous early-stage online payment vendors, including Zip Zap, which enables consumers to pay for online purchases with cash, and Credorax, a payment acquirer for online transactions. Blumberg also recently invested in Israeli payment security firm BioCatch Ltd.
XSeed Capital, lool ventures and Rhodium, all previous investors in Zooz, also participated in the funding round. New investors Access Industries and Camp One Ventures also participated.
Zooz’s technology, with security and fraud tools built in, can be used online and in stores and maintains a record of customer transactions retailers can use to personalize future shopping, Zooz says.
“There is clearly a need for an advanced payment technology that can help businesses stay ahead of their competition through optimization and technology differentiation, and that is where Zooz excels,” says Alon Lifshitz, a partner at Blumberg Capital.