US FinTech firm Dosh has completed a $44 million Series A financing round which saw participation from Goodwater Capital, PayPal and other institutional investors.

The consumer cashback app, which was launched a year ago, will use the money to help accelerate product innovation and technical capabilities.

During the past four months, more than three million new users have joined the Dosh platform, tens of thousands of new merchants have been added to the app, and more than $25 million in cash has been paid to consumers.

“We are focused on creating the leading financial services platform for brands and merchants to connect directly with their consumers, with this additional funding, we can continue hiring the highest-calibre employees and rapidly growing our customer base and merchant partners,” said founder and chief executive Ryan Wuerch.

Combining behavioural insights with machine learning, Dosh has become the largest card-linked, cash-back app and network in the US. Sam's Club, Forever 21, Cost Plus World Market, Mattress Firm, Papa John's, Chili's and Payless ShoeSource are among the brands already onboard.

Share Story: