FastAF Closes Series A Funding at $200 Million Valuation

SAN FRANCISCO, Dec. 8, 2021 /PRNewswire/ -- FastAF Technologies, Inc. (FastAF), the premiere quick commerce retailer for products and brands that help people live better, today announced the close of its Series A investment round that values the company at $200 million. Investors in this round include Luxor Capital, Interlace Ventures, EQT Ventures, PivotNorth Capital, Daversa Partners, former Benchmark venture partner and current Adobe CPO Scott Belskey, founder and CEO of global ad agency RG/A Bob Greenberg and former NBA star Baron Davis.

Just in time for the holidays, FastAF is launching its own delivery service. Not only does the in-house delivery service create a better customer experience, it also enables shoppers to do last-minute shopping with delivery in minutes. FastAF will use a portion of the new funds to advance the brand's footprint within markets and further accelerate its growth initiatives, which include adding new customers, vastly expanding its selection of brands and products and growing the team.

"FastAF has distinguished itself from the other quick commerce players by offering premium brands that our customers can't get anywhere else with the same speed and convenience available only from FastAF," said Lee Hnetinka, Founder and CEO of FastAF. "This new round of funding validates our goal of providing everyone with access to high quality products that make their lives better. We're thrilled about bringing on Luxor Capital, Interlace Ventures, Daversa, Scott, Bob and Baron in this round."

Since launching, FastAF has established a strong presence in New York, Los Angeles and San Francisco. The company offers thousands of products from hundreds of brands on the FastAF app, many of which aren't available on other quick commerce platforms. Products available through FastAF are healthier, better for the planet and higher quality than the mass market items available on other quick-service commerce platforms or from corner convenience stores. The result is a highly curated list of coveted products from the most on-trend brands, delivered to shoppers in minutes.

"FastAF is empowering a new way for consumers to shop for their favorite brands locally," said entrepreneur, investor and two-time NBA All-Star Baron Davis. "Retail commerce is fundamentally changing, and FastAF is at the leading edge of helping shoppers live their best lives by providing access to premium products - all delivered in just a few minutes."

As part of this funding round, FastAF is announcing that it is spinning out of Darkstore, the provider of the core technology that drives FastAF's micro fulfillment abilities. As an independent entity, FastAF can continue to focus on delivering quality brands to people with a fast, phenomenal customer experience. Darkstore will continue its focus on developing proprietary technology that gives FastAF an edge in delivering products in minutes from its micro fulfillment centers.

ABOUT FASTAF TECHNOLOGIES INC.
FastAF Technologies, Inc. (FastAF) is the premier quick commerce retailer for instant access to a highly curated list of premium products from exclusive brands -- delivered to customers in minutes. Launched in 2020 by founder and CEO Lee Hnetinka, FastAF and its tech-forward approach has rapidly become the preferred choice for shoppers who value speed and on-trend products from brands that help them live better. FastAF has thoughtfully partnered with more than 600 national and local retailers and currently operates in the San Francisco Bay Area, Los Angeles and New York, with more markets opening soon. FastAF and Darkstore are backed by leading venture capital firms, and angel investors including PivotNorth Capital, Cota Capital, EQT Ventures, R/GA Ventures, Village Global, Luxor Capital, Interlace Ventures, Scott Belsky, Gokul Rajaram, Gary Fritz and Bob Greenberg.

Visit FastAF.com to learn more, and follow FastAF on Facebook, Twitter and Instagram. Download the FastAF app for iOS in the App store.

Media contact: Hannah Woodard, [email protected]

SOURCE FastAF Technologies, Inc.