# Fero Payment Science

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/fero-payment-science

- Industry: Software
- Headquarters: Amsterdam, Netherlands
- Website: www.fero.com
- Total disclosed funding: $3M
- Latest round: Seed (Nov 2, 2023)
- Investors on record: 3

## About

Based in Amsterdam, Netherlands, and founded in 2023 by co-founders Craig Savage and Maximilian van Boxel, Fero Payment Science provides a real-time payment solution that designed to increase conversions by recognizing the preferences of each customer and tailoring their checkout experience accordingly to reducing fraud and eliminating false positives. In November 2023, Fero Payment Science raised EUR 284 million in seed funding from new investors Coatue Management, Volta Ventures, and Antler.

Fero offers a solution that analyses each shopper behaviour, and activity to estimate the chance of purchase completion. By implementing segmentation, multi-classification prediction, and reinforcement learning sequentially, it can identify a shopper's preferred purchases and provide the best possible payment experience. The company's AI engine also optimizes payment methods, strategically offering more expensive options for certain transactions and more affordable choices for others, effectively reducing payment costs while maintaining a positive impact on conversion rates.

The company plans to use the November 2023 funding to develop its payment solution further and expand its global footprint.

## Funding rounds

- Seed, Nov 2, 2023, $3M — Coatue Management, Volta Ventures, Antler

## Investors

- Coatue Management (https://capitalatlas.ai/funds/coatue-management) — Seed
- Volta Ventures (https://capitalatlas.ai/funds/volta-ventures) — Seed
- Antler (https://capitalatlas.ai/funds/antler) — Seed