Did you know that 1 out of 3 online transactions is abandoned because the user had forgotten their passwords?
Domm Holland is the co-founder and CEO of Fast, a company that is building the worlds fastest login and checkout product. Fast wants to do this by taking out the need for passwords. Domm believes in a passwordless future in which we can all rely on Fast to make it easier for us to buy things online.
Before Fast, the solutions we've had to passwords have been Password Managers like LastPass, 1Password, and Keeper. The issue is that these solutions are what if someone hacks that password manager? Well, that just means that they'll have access to all your passwords. Some companies have implemented solutions like FaceID from Apple, or other biometric authentication methods. The only problem is that you must create a digital signature for each of these eco-systems. Fast is platform-agnostic and can be used by multiple vendors as long as they are part of the eco-system.
Fast has received some attention from some of the biggest Venture Capitalist firms in Silicon Valley. Jan Hammer, from Index Ventures (The same firm who led the round for Robinhood), has led the round for Fast's pre-seed round of $2.5 million. Included in the pre-seed round are Susa Ventures, Global Founders Capital, and some local Angels.
On March 26, 2020, Fast announced a $20 million Series A funding round led by Stripe, with even more participation from Susa and Index. Stripe is a $35 billion online payments company, to say the least. Stripe's investment also signals the validity of Fasts mission. With access to Stripes global market and brand, the future looks like a little black button with "Fast" on it on every login and checkout interface.