Checkmate secures five million dollar funding round

Personalised smart shopping tool Checkmate has announced the closing of a five million dollar seed funding round, led by Fuel Capital.

The new investment will be used to accelerate product development and customer growth, the company said in a release.

The tool itself aims to offer a way of responding to current market dynamics, with its CEO and co-founder, Harry Dixon, stating that it could provide significant value to brands.

“With record-high inflation, economic uncertainty and a volatile stock market, consumers are looking to save wherever they can,” Dixon said.

He continued: “At the same time, skyrocketing digital ad costs mean retailers and brands need new ways to establish and build their own customer relationships.”

Available as both an app and a laptop extension, Checkmate enables users to manage personalised email deals from brands and automatically apply them at checkout.

The dashboard further stores gift cards and tracks orders so shoppers can see when their packages will arrive.