Dosh, an app which provides cashback to consumers, has collected $44m in its Series A funding round.
Goodwater Capital, Paypal and other undisclosed investors made contributions to the round.
Late last year, FinTech Global reported the company was raising more funding, having pulled in up to $4.9m from four backers, according to an SEC filing.
Texas-based Dosh helps users to earn money back by automatically searching for offers, without the need of scanning receipts, manual searching or through coupons. The platform also helps users to get the best deals for booking hotels and car rentals.
The app, which launched last year, is downloadable from the Apple Store and Google Play. To get started, a user just has to connect their credit and debit card.
Over the last four months the company has seen over 3 million new users join its services, as well as tens of thousands of merchants added to the app. During this time Dosh helped more than $25m in cash be paid to consumers.
Merchants partnered with the app include Sam’s Club, Forever 21, Cost Plus World Market, Mattress Firm, Papa John’s, U.S. Polo Assn, Chili’s, and Payless ShoeSource.
With this capital injection Dosh hopes to hire more staff members and increase its customer base and merchant partners.
Walmart Global eCommerce/Samsclub.com senior product marketing director James Lerner said, “Dosh subscribers become sustained, repeat customers faster. Those customers are visiting 29% more often and spending 60% more per visit after 60 days when compared to non-Dosh subscribers.”
Prior to this Series A, Dosh picked up $2m in its Seed funding round early last year to support the launch of its private beta mode.
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