OneText raises $4.5M from Y Combinator, Khosla to reinvent shopping by text

The typical online checkout experience has become bloated with friction. And while more companies are building solutions around online checkout, few are rethinking it from scratch. One such company is OneText, which is building what it calls a “text-to-buy network,” that lets shoppers complete purchases via text message.

The company, founded by former PayPal employees, just closed a $4.5 million seed round backed by Khosla Ventures, Coatue, Citi Ventures, Y Combinator, Good Friends (the fund created by the founders of Warby Parker, Allbirds,…