SAN FRANCISCO, April 30, 2024 /PRNewswire/ -- Ansa, the
fintech infrastructure solution enabling merchants to launch
branded customer wallets, announced today a $14M Series A funding round. The round was led by
Renegade Partners with participation from Bain Capital Ventures,
B37 Ventures, Box Group, and Wischoff Ventures. The funding will be
used to broaden the depth of Ansa's payment solutions, with a focus
on product development and engineering, to empower merchants to
better engage their customers.
Merchants spend over $138 billion
annually on fees, microtransactions and small transaction volume
payments, such as a $4 latte purchase
can incur additional costs exceeding 12.5% — a massive burden on
businesses. Costs are going up across the board as inflation and
high interest rates impact businesses, which according to recent
Forrester research, may discourage consumer spending and decrease
sales volume. As customer loyalty becomes more unpredictable,
enabling consumers to leverage rewards and loyalty incentives to
supplement their everyday spending at checkout becomes essential to
retaining customers and off-setting customer acquisition costs.
Ansa helps brands defend against tightening customer budgets and
drive increased frequency.
"Commerce has outpaced payments innovation. The technology
paradigms we use for payments are decades old. As our world
increasingly digitizes, consumers demand better experiences as
businesses continue to innovate. Both consumers and merchants
deserve more flexibility, which is why we built Ansa," said
Sophia Goldberg, CEO and co-founder
of Ansa. "From marketplaces and microtransactions to convenience
stores and quick-serve businesses, modern commerce has changed. At
Ansa, we are excited to pioneer solutions that enable merchants to
optimize seamless payment strategies, boosting customer engagement,
retention, and frequency for sustained growth in today's
competitive market."
Branded customer wallets enable merchants to offer a payment
solution which fits their use cases better, while driving customer
loyalty and frequency. Additionally, merchants can enhance revenue
streams and foster customer loyalty through efficient transactions
that utilize stored balances. With Ansa, merchants can drive
adoption of their wallets by seamlessly integrating customer
balances with rewards, incentives, and their other loyalty
initiatives — easily implementing a Starbucks app-like
experience.
Ansa's API-first platform enables merchants to effortlessly
launch white-labeled customer wallets for payments and incentives
all within a single integrated solution. Platform users have
experienced a significant 30% boost in average order frequency and
a notable 26% increase in revenue, showcasing the platform's
effectiveness in driving business growth and customer
engagement.
"Ansa is setting a new standard for how we'll all transact in
the future, with a pioneering payments solution that lets merchants
trade burdensome credit card processing fees for increased customer
lifetime value (LTV)," says Renata
Quintini of Renegade Partners, who joins Ansa's board. "With
a CEO that literally wrote the book on payments, Ansa's branded
closed-loop wallet enables merchants to deliver seamless purchasing
experiences to their customers — increasing retention, frequency,
and overall loyalty."
Ansa was most recently recognized as one of The Information's
Most Promising Startups of 2023 and its inclusion in Money2020's
esteemed Startup Network underscore its role as a rising star in
the fintech industry. The investment round of which, notably,
95.6% of the funding came from female investors, reflects a
positive shift in the fintech funding environment.
About Ansa
Ansa is a fintech infrastructure platform
for embedded customer balances, offering white-labeled solutions
that drive profitability and loyalty for a range of industries.
Ansa enables enterprise brands to embed customers balances,
compliantly and seamlessly, and manages the payments, accounting,
regulatory, and compliance challenges. Empowering merchants to
quickly take a branded closed-loop payments program to market, Ansa
helps them keep their focus on increasing revenue, cash flow, and
customer insights, while creating greater loyalty and better
customer experiences. Backed by renowned investors, including
Renegade Partners, Bain Capital Ventures, Box Group, and The
Fintech Fund, Ansa has raised $19.6M,
of which, over 95.6% of the funding came from female investors.
Headquartered in San Francisco,
the company was founded by Sophia
Goldberg, the author of The Field Guide to Global
Payments and previously at Adyen, and JT Cho, a fintech veteran
and lead engineer at Affirm and Google. To learn more:
https://www.ansa.dev/
Media Contact:
Christina MacDonald Sikand
Vansary for Ansa
christina@vansary.com
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SOURCE Ansa