Kudos, a smart wallet that maximises consumer rewards and benefits while shopping online, has raised $7m in seed funding.
The round was led by Patron, and included investments from QED Investors, SciFi VC, SV Angel, Precursor Ventures, Newtype Ventures, Chingona Ventures, and over forty angel investors.
Founded in 2021, Kudos is a smart wallet that works everywhere users shop online and helps them save time and earn money whenever they shop.
The Kudos smart wallet helps users maximize their credit card rewards and hidden benefits like purchase protection and travel insurance when shopping online. Kudos said it speeds up checkout by auto filling card details, including CVV, on every site users shop at.
Alongside the funding, the company has also launched its mobile and desktop extension to the public.
Kudos said the capital will enable it to further develop its first product, a smart wallet that helps users simplify checkout and maximize their credit card rewards whenever they shop online.
Additionally, the company will allocate funds toward future initiatives, including the launch of additional cashback boosts across 12,000 merchant partners, user growth, and a number of other features yet to be announced.
Tikue Anazodo, co-founder and CEO of Kudos, said, ?Our goal at Kudos is to simplify online checkout and maximize rewards and benefits to the consumer. The support of our investors allows us to further realize this goal and continually improve the customer experience. We identified an opportunity to build a new wallet product with a more consumer-focused lens and are excited to provide greater utility and benefits to our users.p>
Jason Yeh, co-founder and general partner at Patron, added, ?We’re thrilled to back Kudos’ expansion and its mission to maximize the online shopping experience. Kudos has the team and the experience to execute at the highest level and will undoubtedly revolutionise online shopping by creating delightful experiences for their users.p>
Payments firm SumUp recently launched SumUp Pay, a digital wallet that the company claims makes shopping locally easier and more rewarding.
Copyright ? 2022 FinTech Global
