FlipGive, a platform that offers cashback rewards and an end-to-end fundraising solution for youth sports teams, has successfully secured CAD$5m.
This round was co-led by Thrive Venture Fund at BDC Capital and Framework Venture Partners.
Specialising in youth sports fundraising, FlipGive provides an innovative method for families to manage the costs associated with children’s sports activities. The platform collaborates with over 800 brand partners and offers cashback rewards for shopping, thereby turning everyday purchases into straightforward fundraising for sports teams.
The newly acquired funding will be used to expand FlipGive’s direct-to-consumer app across North America. Additionally, the funds will help in scaling FlipGive Rewards, a white label embedded cashback rewards shopping platform that offers a fresh source of revenue for companies in sportstech, schooltech, and causetech sectors.
The company has established itself as a certified Beneficial Corporation (B-Corp) and is highly committed to increasing accessibility in youth sports. FlipGive has, to date, contributed over $50m in cashback rewards that benefit sports families across North America.
Amy Halpenny, CEO of FlipGive, said, “Youth sports have never been more expensive than they are today, especially as families feel the pressures of double-digit inflation. 44% of parents say they struggle to fund their kids’ sports and activities. FlipGive offers a solution to offset the rising cost of play; a fast, free, and easy way to fund a youth sports season by earning cashback from everyday shopping.”
Launched this past August, FlipGive Rewards extends the company’s successful fundraising model to a broader range of sectors, including the $500bn charitable and school fundraising space.
Michelle Scarborough, Managing Partner, Thrive Venture Fund at BDC Capital, said, “We’re excited to support FlipGive as it grows and accelerates the development of its embedded cashback rewards platform, now delivering recurring cashback-as-donations to address one of the biggest pain points in charitable fundraising sector. From the beginning, FlipGive has transformed how sports teams fundraise and has demonstrated positive impact on thousands of families in North America — all while making it easier for everybody to give back.”
It should be noted that the financing round coincides with the launch of FlipGive’s first white label partner, TeamLinkt, one of North America’s fastest-growing sports management and team apps. TeamLinkt Rewards, powered by FlipGive, aims to make it easier for its 1.5m users to benefit from cashback rewards through daily shopping across 800+ brands.
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