RO tech start-up gets financing to convince online buyers who abandon virtual carts
Romanian conversational marketing platform Cartloop received a capital injection of EUR 300,000 from the venture capital fund GapMinder VC, only half a year after its launch.
The investment from GapMinder VC was completed by an "angel investment" contribution from Cristian Tamas, co-founder of TypingDNA, Agerpres reported.
Cartloop will use the money to optimize the solution, the founders aiming to attract new customers and expand globally.
Cartloop is a conversational marketing platform that helps online merchants convince undecided customers to buy products from the abandoned virtual carts.
Specifically, based on the buyer's agreement when visiting an online store, he would be prompted with questions - and provided with answers, if necessary, about why he hasn't completed the purchase.
The platform includes technology that automates and customizes the process by which customers receive answers to questions such as: "Does the product have a warranty?"; "How does the product work?"; "Can I return it if it doesn't suit me or I don't like it?"
Cartloop converts [convinces] between 15-30% of all customers who drop orders compared to automatic text messages or emails that reach a conversion rate of 4-8%, according to the platform's representatives.