Shop.co, a Düsseldorf, Germany-based San Francisco, CA-based provider of a solution to streamline online shopping, closed a $7m seed funding.
The round was led by two German state banks (Sparkasse and NRW Bank), senior partners and advisors of The Boston Consulting Group, super angels Fabian Thylmann and Panya Putsathit, as well as a major German family office and German asset manager.
The company is now valued at $27m.
Co-founded by Jay Habib and Manuel Schoebel, Shop.co offers an universal cart and checkout browser extension that uses patent pending technology to allow shoppers in the US to add any item from any online retail store to one unified online cart. Shoppers are able to checkout from multiple stores at once and avoid registration, login, and checkout. The extension also automatically applies coupons to the order when available.
After opening their German office in February 2015, the company expanded to the United States a year later to prepare for a US market product launch.