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FAM
Techstars '24London, GB · Founded 2022 · 9 employees on LinkedIn · 1 known investors
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Fam is a payment infrastructure platform that enables merchants to process direct bank payments without card fees, allowing them to share savings with customers as store credit. The service targets ecommerce merchants and aims to increase customer retention and lifetime value.
Also known as Fam · FAM Checkout
Founders & leadership
FAM was founded in 2022 by Urvesh Vasani and Devansh Vasani.
Investors · 1
How we know: the company's own site · the Techstars portfolio · open dataset · Top 3000 Accelerator Startups (no YC) 2026-08 · Not right? Tell us
Company profile
researched Sep 2026FAM operates a payments and rewards platform for ecommerce brands and their customers. Its merchant product, FAM Checkout, lets shoppers pay in full directly from their bank account using their banking app or website, avoiding card processing costs for the merchant. Merchants pass part of those savings back to shoppers as store credit, which is redeemed on a subsequent purchase paid the same way. The company markets the model as a retention mechanism, stating that it brings customers back 40% faster for their next purchase and raises customer lifetime value by 46%.
On the consumer side, FAM promotes rewards of 10% back in store credit at hundreds of participating brands, positioning this against typical 1% cashback offers. The company has announced a forthcoming consumer app centred on "agentic commerce": an AI-powered browser built for shopping that maximises card points, surfaces cheaper alternatives and discounts, and AI agents that handle returns before the return window closes and resell items on the shopper's behalf. Brand discovery in the app spans high street names and brands recommended by its agents.
The platform is presented as enterprise-grade, with payment and payment account infrastructure regulated by the UK Financial Conduct Authority, ISO 27001:2013 certification and GDPR-compliant infrastructure. It integrates with lifecycle marketing and support tools including Klaviyo, Mailchimp, Attentive, Drip, Sendgrid, Brevo, Omnisend, Gorgias and Zendesk, as well as webhooks.
Business model
FAM sits in the merchant checkout as an alternative payment method based on direct bank payments, removing card processing fees for the retailer. The merchant reinvests a portion of the saved fees as store credit issued to the shopper, which can only be redeemed with that brand when paying via FAM again, tying the savings to repeat purchasing.
The company markets 0% payment fees to merchants on FAM-processed transactions; sources do not further detail its pricing.
Traction
The company reports that FAM Checkout grew approximately 1,400% across the UK and, in a separate statement, 50% month over month, and says its product is live at checkout with hundreds of brands and used by thousands of shoppers.
Latest developments
The founders have announced a forthcoming FAM consumer app and an "agentic commerce" direction, combining 10% store-credit rewards, an AI shopping browser and AI agents that manage returns and resale.
▸Full profile — market position, technology, go-to-market, geography
Market position
FAM describes itself as the fastest growing payment choice among Gen-Z and young millennial shoppers in the UK and positions its 10% store-credit rewards against conventional 1% cashback programmes.
Rather than charging merchants card-based processing fees, FAM routes payments directly from shopper bank accounts and converts the avoided fees into shopper store credit, aligning a consumer reward with merchant cost savings and repeat purchases.
Technology
Direct bank payment (pay-by-bank) checkout infrastructure with payment account capabilities, plus a planned consumer app comprising an AI-powered shopping browser and AI agents for returns, resale, discount finding and card-points optimisation. The payments infrastructure is described as FCA-regulated, ISO 27001:2013 certified and GDPR compliant, with integrations into marketing and customer-support platforms and webhook support.
Go-to-market
Merchant acquisition is handled through a direct sales motion, with a "Request a Demo" funnel and an ecommerce-specialist team; the website also names a Shopify developer role, and merchant-side integrations with lifecycle marketing tools support deployment. Consumer demand is built through checkout presence at participating brands and, prospectively, the FAM app.
Ecommerce brands and retailers in the UK seeking lower payment processing costs and higher repeat purchase rates, and their shoppers, primarily Gen-Z and younger millennial consumers.
Geography
Operations are centred on the United Kingdom, with an address at 124 City Road, London EC1V 2NX, and checkout growth reported across the UK.
Compiled by commissioned research from 9 cited public sources — announcements, filings, and press listed under research sources below.
Key figures
latest reportedCompany-reported or press-reported figures, each dated to when it was claimed — not independently audited.
Timeline · 1
launches, deals, and filingsAlongside reported growth of FAM Checkout across the UK, the founders announced an upcoming FAM consumer app offering 10% back in store credit, an AI-powered shopping browser and AI agents that handle returns and resale.
Dated company events from announcements, filings, and press; legal rows summarize public dockets and regulator releases.
Legal entities · 1
corporate structureCompanies House · registry record
View on Companies House ↗- Registered name
- FRICTIONLESS TECHNOLOGIES LTD
- Company number
- 13368384
- Status
- Active
- Company type
- Private limited company
- Incorporated
- 30 Apr 2021
- Registered office
- 124 City Road, London, EC1V 2NX
- Nature of business (SIC)
- 58290 — Other software publishing
- Accounts
- last made up to 31 Mar 2025 · next due 31 Dec 2026
- Confirmation statement
- last made up to 29 Apr 2025 · next due 13 May 2026
Current officers · 2
- Devansh Vasani — director, appointed 31 Jan 2022
- Urvesh Vasani — director, appointed 30 Apr 2021
Source: Companies House public register · retrieved 24 Jul 2026. Contains public sector information licensed under the Open Government Licence v3.0.
▸Research sources · 9
primary sources listed
- FAMjoinfam.com · web
9 public sources were cited for this profile; the first-party ones are listed here.
Frequently asked questions
- What does FAM do?
- UK payments company whose checkout lets shoppers pay by bank transfer and earn store credit funded by merchants' card-fee savings.
- Who founded FAM?
- FAM was founded by Urvesh Vasani, Devansh Vasani in 2022.
- Who are FAM's investors?
- FAM's investors include Techstars.
- Where is FAM headquartered?
- FAM is headquartered in London, GB.