A US-based fintech start-up, Croissant, has secured $24 million in seed funding from investors, including Portage, KKR, and its co-founders. Other investors include Third Prime, BoxGroup, 25madison, and Twelve Below.
Croissant focuses on the commerce sector, offering a platform that integrates into merchants’ existing shopping experiences. At checkout, it provides customers with a guaranteed buyback value for their purchases using data science and AI tools. Croissant fulfills these guarantees.
Once a purchase is made, the goods become liquid assets within customers’ Croissant accounts.
These assets can be sold later, and customers can use the funds with the merchant for future purchases.
CEO John Howard emphasizes the need to engage consumer psychology in the purchase decision, enabling merchants to increase sales and consumers to enjoy the benefits of resale without the hassle of reselling themselves.