Prague-based Outfindo, an AI-driven platform designed to simplify online shopping, has raised €1.2 million in a late-seed funding round. Founded in 2020 by Jan Mateju, Ondrej Bouda and Martin Chrz, the company is revolutionizing how e-commerce platforms guide customers through complex purchasing decisions.
Outfindo’s flagship product, Product Guide, integrates directly into merchants’ websites, offering customers an intuitive question-based journey to identify the best products for their needs. The platform is powered by two AI models: Outfindo Beacon, which analyzes customer behavior to deliver personalized recommendations, and Outfindo Diver, which processes product data to ensure accuracy.
The funding round was led by Eleven Ventures, with participation from Dronamics, Payhawk, NitroPack, Lighthouse Ventures, and Borovicka Capital. Vojta Rocek, Partner at Presto Ventures, a previous investor, remarked that Outfindo’s AI simplifies decision-making and builds shopper confidence. Ivaylo Simov of Eleven Ventures highlighted the platform’s ability to empower e-commerce stores to compete with larger players by offering superior user experiences.
Since Q1 2024, Outfindo has tripled its revenue and expanded from two product categories in two countries to 26 categories across 10 countries. The platform partners with retailers like Grenion, Allegria, and Cycles UK, achieving up to a threefold increase in conversion rates and reducing product returns by 70%.
CEO Jan Mateju emphasized that the new funding will accelerate market expansion, enhance product data automation, and introduce innovations like self-service tools for smaller retailers. Outfindo’s vision is to bring expert-level guidance to online shopping, reshaping the digital retail experience globally.
Featured image: Credit: Outfindo
