FLIK, an Indonesian-based startup that provides a unified checkout solution, has secured US$1.1 million of pre-seed funding led by East Ventures, with the participation of Init-6, GMO VenturePartners, and Saison Capital.
Co-founded by Ahmad Gadi (pictured) , chief executive officer of FLIK, the unified checkout solution is founded to solidify a fintech infrastructure and shoppers' experience. Its mission is to provide the best shopping experience by connecting shoppers to products they like, and enabling fast rewarding checkout experience, with the goal of helping brands to increase checkout conversions and repeat orders. Gadi brings over 10 years of experience in the tech industry, especially in payments and commerce, from his experience of founding and exiting Pawoon, a point of sale company, which had successfully acquired tens of thousands SMEs and enterprises to onboard and accept digital payments.
The checkout solution is looking to embed itself into all aspects of the consumer shopping journey, from product discovery, price comparison, express checkout with rewards, and post-purchase services such as processing refunds and returns for shoppers. Additionally, shoppers can track all details of their online transactions, such as payments and shipping status directly through one application. Shoppers can have a more consistent and frictionless checkout experience regardless of sales channel and where they shop.
For brands and businesses, having a unified checkout infrastructure is a gateway to capture a single consolidated data insights of shopper interactions across channels and leveraging the analytics to improve business performance.Gadi realised that shoppers have more shopping channel options other than marketplaces, such as the eCommerce, social media, or chat applications. However, inherent checkout frictions and shopping experience have fragmented across e-commerce, letting shoppers to prefer buying products in the marketplaces, especially with the cashback or promotions offered.
Succeeding in D2C serves a wealth of benefits for brands, such as the ability to command complete control over consumer data, brand loyalty, and platform fees. Therefore, FLIK claims that it creates compounding network benefit for the D2C ecosystem by empowering shoppers, brands, and content creators. It creates an endless mutually beneficial loop for the D2C ecosystem. When the users join FLIK network, they will both benefit and contribute to the D2C network. The more brands that join FLIK, the more shoppers join the network. In return, FLIK’s massive shoppers’ network will fuel more conversions during checkout, attracting more brands and content creators to join. Furthermore, FLIK opens up a new way of monetisation for content creators by having branded content that can enable viewers to checkout natively without any redirections, converting the viewers into shoppers.
“We’re glad to have the support of East Ventures and its large ecosystem. FLIK is here to help brands enhance their direct-to-consumer (D2C) transactions by unifying the checkout experience across different sales channels. We believe our solutions will solve the pain points experienced by shoppers in completing e-commerce transactions across different channels, further empowering brands and content creators to scale,” said Gadi.
Commenting on the pre-seed funding, Avina Sugiarto, partner at East Ventures, said, “We welcome FLIK into East Ventures’ family. We believe the unified checkout solution offered by FLIK is the right solution to eliminating sales and payment friction, enabling the empowerment of shoppers, brands, and content creators in one go. With the promising digital economy in Indonesia and the region, we are excited to see more adoption and growth from FLIK in this near future.”
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