Cushion, which claims to be a leader in bank and credit card fee negotiation, has scored $12m for its Series A funding.
Rose Park Advisors led the round, with commitments also coming from Flourish Ventures, Vestigo Ventures, TSEF, Green Cow Venture Capital, and CMFG Ventures Discovery Fund.
This capital injection will help Cushion hire more staff for its product, engineering, data analytics, and marketing teams as it looks to launch its bill pay solution to the general audience, following a beta test. The service aims to stop consumers accumulating unnecessary bills from late payments by keeping them updated with upcoming expenses.
It claims the solution is being awaited by over 100,000 current customers.
Cushion product operations manager Emily Onimus said, “Bill pay has been on Cushion’s radar since day one, but the pandemic made one thing very clear: Consumers need a solution sooner rather than later.
“Our support team has been in the trenches with customers fighting tooth and nail to refund bank fees so that people can get by during these hard times. Unfortunately, being on the front lines, we’ve seen the devastating financial hardships our customers have endured over the past two years. Enough is enough. It’s time for Cushion to step in here and make things a bit easier for them.”
Cushion offers tools to manage, pay and finance bills from a single location, enabling users to track bills, avoid late fees and overdrafts, and borrow money when needed. It also helps users to build their credit scores.
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