Prague-based Outfindo bags €1.2M to solve this critical e-commerce challenge

Prague-based Outfindo, a platform that aims to transform online shopping, has raised a €1.2M late-seed round funding to accelerate growth and expand its go-to-market channels.

Founded in 2020 by Jan Mateju, Ondrej Bouda and Martin Chrz, Outfindo is an AI-tech startup focused on simplifying the online selection of complex products.

Its flagship product, the Product Guide, integrates into merchants’ websites, guiding customers through a decision-making process with intuitive questions. This narrows down options to the best products for their needs.

Outfindo’s technology is driven by two AI models: Outfindo Beacon, which analyses customer behaviour to provide personalised recommendations, and Outfindo Diver, which processes product data to ensure maximum accuracy.

Investors supporting Outfindo

Outfindo’s funding round was led by Eleven Ventures, a CEE early-stage fund, with participation from Dronamics, Payhawk and NitroPack. Czech investors Lighthouse Ventures and Borovicka Capital also invested in this round.

Vojta Rocek, Partner at Presto Ventures, lead investor in the 2023 funding round, says, “The promise of AI has always been to simplify the complexities of the world around us. Outfindo takes this further by not only streamlining the decision-making process but also tackling the biggest challenge in a shopper’s journey: the confidence of knowing they’ve made the right choice.”

Ivaylo Simov, Partner at Eleven, adds, “Our vision is that AI will reshape how we shop and how we select the right products for our needs. Outfindo’s value proposition is perfectly aligned in that direction, as they allow e-commerce stores to provide great user experience and continue to compete with the big guys.”

This funding follows Outfindo’s 3x revenue growth since Q1 2024. Over the past year, the platform has expanded from two product categories in two countries to 26 categories across 10 countries, partnering with e-retailers like Grenion, Allegria, Bikero, and Cycles UK.

The idea behind Outfindo?

Outfindo originated with Jan Mateju, a former professional cyclist. His experience helping friends and family choose the right bike revealed the challenges shoppers face navigating complex product categories online, where the absence of expert guidance often leads to confusion and uncertainty.

Outfindo claims to address a key e-commerce challenge: simplifying the online selection of complex products. According to the company’s user research, 99 per cent of customers start their shopping journey online, 81 per cent struggle with product selection, and 76 per cent prefer expert advice. 

Using an AI framework, Outfindo provides intelligent, plug-and-play guidance tools for online retailers, helping customers make informed decisions. The platform brings expert-level guidance and a personal touch, akin to specialised brick-and-mortar stores, into the digital shopping experience.

Outfindo’s flagship AI-powered guide integrates directly into e-retailers’ product pages, enhancing customer convenience and engagement. 

With interaction rates averaging 44 per cent—and up to 72 per cent on dedicated guide pages—the tool delivers benefits for merchants, including up to a threefold increase in conversion rates and a 70 per cent reduction in product returns.

Capital utilisation

The funding will help Outfindo expand into new markets and product verticals, including air conditioners, gaming consoles, and digital cameras. 

It will also support scaling operations, enhancing product data, and leveraging the ‘Beacon’ model for deeper AI-driven customer behaviour analysis. Planned innovations include expanded catalogue integrations and advanced analytics tools, offering e-retailers automated dashboards and actionable customer insights.

Outfindo supports over 20 product verticals and plans to expand into categories like electronics, home appliances, sports equipment, and childcare products. The company also aims to launch a self-service solution, enabling smaller e-commerce retailers to implement its tools easily.

Jan Mateju, CEO of Outfindo, says, “We’re proud to partner with investors who bring a distinctive edge to the CEE region – ones who share our values and support projects with global ambitions.”

“This investment will allow us to enter new markets faster and advance our technology, especially in the area of product data automation and enrichment. This is crucial for e-retailers who rely on platforms like Google Shopping, where optimising the completeness and complexity of product data is essential.”