Benjamin app’s $5.5m seed round fuels expansion into lucrative cash rewards market

Benjamin app’s $5.5m seed round fuels expansion into lucrative cash rewards market

Emerging as a vibrant new player in the FinTech industry, Benjamin Capital Partners has recently closed a significant seed funding round.

The company, which is making waves with its innovative approach to consumer cash rewards, has successfully raised $5.5m. The round saw participation from prominent venture capital funds such as Play Ventures and F4 Fund. Additional investment came from a notable group of individual investors including Anton Gauffin, Shane Happach, and Ilkka Teppo, showcasing the broad industry support for Benjamin’s market-disrupting potential.

Benjamin Capital Partners is reimagining the consumer cash rewards space with its Benjamin app. Launched in October 2023, the app has quickly gained traction, amassing over 300,000 installs and 195,000 monthly active users. This remarkable growth is a testament to the app’s ability to resonate with consumers, many of whom are earning significant rewards each month. Benjamin distinguishes itself by offering cash rewards, termed as Benjamin Money Moments, for a wide array of everyday activities. From shopping and mobile gaming to viewing advertisements, the app is designed to integrate seamlessly into users’ daily lives, providing them with continuous opportunities to earn.

The recent injection of $5.5m will primarily be channelled towards aggressive user acquisition and product development initiatives.

Benjamin is gearing up for the launch of an enhanced version of the app, alongside scaling its operations to cater to the rapidly growing demand. This strategic investment aims to solidify Benjamin’s position in the competitive cash rewards market, challenging established players by offering a more comprehensive and engaging rewards experience.

Adding to the company’s momentum is the appointment of Lon Otremba as Benjamin’s first CEO. Otremba, whose illustrious career spans significant roles across the media, marketing, and technology sectors, brings a wealth of experience and a proven track record of success. His leadership is expected to drive Benjamin towards achieving its ambitious vision and further innovation in the FinTech space.

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