Croissant, a New York- and Nashville, TN-based fintech platform which specializes in intentional commerce, raised $24M in initial funding.
The round saw participation from Portage and KKR co-founders George Roberts and Henry Kravis. Other investors included Third Prime, BoxGroup, 25madison, and Twelve Below.
The company intends to use the funds to accelerate its MVP launch via a founding team.
Co-founded CEO John Howard (formerly of KKR), CTO John Klose (Amazon, PayPal), and Head of Product Vrishti Mongia, Croissant is a fintech platform that empowers intentional commerce. The system integrates into merchants’ existing shopping experiences, offering customers a guaranteed buyback value at checkout. Its data science and AI tooling generates the guaranteed buyback values offered to customers, and Croissant fulfills those guarantees. Post-purchase, items become liquid assets within customers’ Croissant accounts that they can later sell with one click. Once customers have sold their items, they are directed back to merchants with new funds to power future purchases.
The company’s advisory board of industry leaders includes Rent the Runway Co-Founder and Board Member Jennifer Fleiss; former Chief Merchandising Officer of Intermix Divya Mathur; Lara Meiland-Shaw, a luxury fashion veteran with over 20 years of experience at brands like Louis Vuitton, Moncler, and Saks Fifth Avenue; and Homer and Outdoor Voices Founding Partner Andrew Parietti.
FinSMEs
27/07/2023