Automated cashback app Dosh has pocketed $2m in a Seed funding round as it prepares to launch in private beta mode.
The funding for the Austin-based startup comes from undisclosed private equity firms and high net-worth individuals.
The company’s free app syncs to users’ credit or debit cards allowing them to receive cash back rewards into their account on the app from partnered merchants automatically.
Aiming to replace schemes such as coupons, Dosh claims it is already partnered with more than 100,000 brands and merchants.
It says merchants benefit from being able to micro-target customers with personalised offers.
Dosh founder and executive chairman Ryan Wuerch said: “Our executive team has been instrumental in bringing Dosh to market and attracting high-calibre investors to the company.
“The expertise we have across many different verticals has enabled us to develop a first-of-its-kind app and technology ecosystem.
“Every day, we are focused on delivering market-first technology that will drive billions of dollars back to consumers.”
The company will use the capital to further develop the platform as well as to drive merchant and customer acquisition.
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