StoreCash, a NYC-based provider of a cashback and financial mobile application, raised $3.7M in Seed funding.
The round was led by Black Operator Ventures, with participation from returning investor MaC Venture Capital, 43North Foundation, Alumni Ventures, Buffalo Angels, Popular Ventures, and Mucker Capital.
The company intends to use the funds to expand operations and its development efforts.
Founded by CEO Daricus Releford, StoreCash provides a mobile payment solution that helps users pay via QR codes while earning maximum cash back at their favorite stores. IT passes along 100% of affiliate commissions directly to users, eliminating the hidden fees and limitations imposed by competitors. This approach empowers users to optimize their savings and break free from the constraints of traditional cashback platforms.
StoreCash has reached over $500,000 in Annual Recurring Revenue (ARR) and is seeing 15,000+ new members month over month. The company has seen adoption by retail brands, including DoorDash, Uber, Hotels.com Lowe’s, Domino’s, Gap, Ulta Beauty, Express, AMC Theaters and Michaels.
FinSMEs
20/11/2024