nate, a NYC-based universal shopping app, raised $38M in Series A funding.
The round, which brought the total equity raised to date to $51M, was led by Renegade Partners, with participation from Forerunner Ventures and existing investors Canaan Partners and Coatue.
The company intends to use the funds to expand the business of its online payment solutions.
Led by CEO Albert Saniger, nate is an artificial intelligence online shopping tool that centralizes purchasing onto a single platform, enabling users to buy a product from any e-commerce site. The app acts as a universal shopping solution, with an embedded social side, where friends can inspire each other.
The app is available for mobile download on the App Store.