The news: Mexico-based one-click checkout startup Deuna raised $30 million in Series A funding, according to TechCrunch. Duena plans to put funding toward expanding its presence in Latin America, product development, and increasing employee headcount.
Here’s how it works: Deuna gives merchants a payments infrastructure that supports major payment providers and alternative payment methods. It also offers payment processing, fraud prevention, and customer analytics.
Once customers register with Deuna, they can check out at any of Deuna’s partner merchants without inputting passwords or payment information. The tech picks up on an identifier like their email address and routes customers through two-factor mobile authentication. Duena addresses the entire “acceptance-conversion-fraud triangle,” Deuna cofounder Roberto Enrique Kafati Santos told TechCrunch, whereas other one-click checkout providers only go after pieces.
A challenging opportunity: A growing ecommerce market is making Latin America ripe for digital payments disruption, which Duena is looking to cash in on: Retail ecommerce sales in Latin America are expected to increase nearly 19% annually in 2022 and reach $167.01 billion, per eMarketer forecasts from Insider Intelligence.
But Duena will need to contend with the challenges of the one-click checkout space: Now-shuttered Fast struggled to sustain its business and compete with titans like PayPal and Apple Pay. Duena’s three-prong business model can help it compete against these providers and stand out from other one-click checkout upstarts like Bolt.
