HyperJar, a leading digital wallet company, has proudly unveiled the successful finalisation of a $24m Series A funding round. The investment round witnessed leadership from Susquehanna Private Equity Investments, LLLP, and received notable participation from the Healthcare of Ontario Pension Plan (HOOPP).
Having positioned ‘spending money’ as a significant, yet untapped global market potential, HyperJar stands out in its approach to financial technology. The firm’s award-winning consumer digital wallet enjoys a robust user base, boasting over 500,000 customers across the UK.
With its world-first tools, HyperJar’s wallet empowers users with intentional money management solutions, partitioning capabilities, exceptional monetary control, and access to unparalleled merchant rewards. This innovative approach also allows merchants to efficiently drive desired consumer outcomes via its rewards engine.
Apart from its B2C services, HyperJar has branched out with HyperLayer, a dedicated B2B venture. This service offers international enterprise clientele a doorway to HyperJar’s foundational technology for spending, transactions, and rewards functionalities.
HyperLayer is set to revolutionise banking by offering consumer and social network functionalities to rival digital-first contenders, unveiling new revenue sources and addressing Consumer Duty requirements. Moreover, this venture bolsters offerings of diverse enterprise clients, ranging from asset managers and pension funds to merchants, catering to a wide spectrum of spenders.
HyperJar’s CEO, Rob Rooney, expressed his thoughts, “In a very tough fundraising environment, this investment represents terrific confidence in what we’ve built so far and in HyperJar’s future as a global business. Spending is the world’s biggest asset class, yet it’s largely unserved.
“Making spending money go further is the fastest way for most people to improve their financial position, but this is not what banks, credit platforms, payment platforms or asset and wealth managers are set up to do. We’ve created the world’s best tech for this unmet need. There’s a massive greenfield opportunity for organisations everywhere to offer their customers exceptional spending tech via HyperLayer, and this $24m raise gives us the fuel to accelerate both B2B and B2C product development and to expand internationally into North America, Europe, and other growth markets.”
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