From Lockdown to Launch: Simpler Takes on Checkout Giants in Europe
Athens, Greece -During the first COVID-19 lockdown, Rania Lamprou, aGreek entrepreneur, witnessed the surge of online e-commerce. But she also saw the struggles merchants faced with complicated checkout processes and the need to integrate multiple providers forpayments, shipping, and loyalty programs. This frustration sparked an idea: what if the checkout process could be streamlined into a Checkout as a Service platform,simplifying the experience for both merchants and shoppers?
Lamprou, who had no prior coding experience, decided to take matters into her own hands. She began learning Python and set out to build her vision. While tech giants like Shop Pay and Bolt werealready established in the US market, Lamprou saw a gap in Europe. She knew the continent presented unique challenges, requiring localized solutions and catering to diverse customer preferences and payment providers.
Yes, Bolt is a big, massive company,Lamprou told TechCrunch, But they are focused on the US, mostly with handling fraud problems, like chargebacks, which is a very big problem in the US, but it’s not so much in Europe.
Lamprou, along with two university friends, Alex Kyriakopoulos and Spyros Mandekis, co-founded Simpler, a platform designed to address the specific needs of the European e-commerce market. They secured a $1 million pre-seed round and began building their team.
The European e-commerce market, which experienced a 66% sales increase from 2019 to2021, presented a significant opportunity for Simpler. The market is expected to reach $955 billion by 2028, making it a prime target for a company like Simpler, which offers a unique solution.
Simpler’s approach is simple: merchants can fully outsource payments, shipping, andloyalty programs into one system, boosting conversions and reducing complexity. For shoppers, it means a one-click buying experience across multiple stores and channels, making shopping literally simpler.
The platform is a low/no-code solution that can be integrated quickly, providing a seamless experience for both merchants and shoppers. Simpler hasalready gained traction, boasting over 250 merchants and more than half a million registered shoppers. The company is projecting a 10x revenue increase by the end of 2025.
This growth has attracted investors, with Simpler recently raising €9 million / $10 million in a late Seed/ pre-Series A round. The funding, led by VentureFriends, MMC Ventures, and Lamda Development, will fuel Simpler’s expansion across Europe, particularly in the UK, Italy, and Spain.
We’re seeing strong demand from both SMEs and enterprise-level businesses as we expand across Europe, said Lamprou.
Simpler stands out from its competitors by offering a platform designed for all e-commerce platforms, unlike Shop Pay, which is exclusive to Shopify. Furthermore, Simpler’s focus on the European market allows it to tailor its approach to the specific needs of each country.
We’vebuilt a robust end-to-end solution with three orders of magnitude less funding than Bolt, Lamprou added with a smile.
Rania Lamprou’s journey from lockdown to launch is a testament to the power of innovation and the entrepreneurial spirit. Simpler’s success in the European e-commerce market is a testament toits unique approach and its ability to cater to the specific needs of the region. As the company continues to grow, it is poised to become a major player in the global checkout space, challenging the dominance of established players like Bolt and Shop Pay.
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