Vet expense crowd-sharing app eusoh nets $2m seed financing

June 20, 2018

eusoh, a platform for crowd-sharing expenses, has collected $2m in its Seed funding round, to help the launch of its new platform.

The company’s software enables consumers to share expenses by allowing users to join groups and share bills. eusoh will start by focusing on veterinary care and will help protect consumers from unexpected expenses. Its membership is an on-demand protection plan that funds losses retrospectively.

There is a barrier to ensure users don’t spend more than they pledge each month, and will verify all accounts to remove the chance of fraud. Money is pledged before deploying to ensure funds don’t fall through, and a user can see where all their money is spent.

There is only limited access to the beta version, with only a select group of early adopters and brand ambassadors having access to the full platform. Users can sign up to join groups before the launch, and donations can be made to help rescue animals for vet bills.

This equity injection will be used to scale its technology and marketing operations. Discussions are being made about potential strategic partnerships and a Series A round, which is expected to finalise over the coming months. All of these together are helping the company with its growth into new markets.

eusoh founder and CEO Allen Kamrava said, “People prefer to save money and share on demand. Consumers today are used to having technology make their lives easier and cheaper. Technology is connecting consumers directly, disintermediating the expensive middle enterprises, as epitomized with cars and rentals, so why not have their financial protection on demand as well?

“Our generation is also incredibly charitable, and the idea that together we can touch the lives of every pet in this country, with micro-contributions aligns with our vision.”

Earlier in the week, vet care payment plan provider Scratchpay reportedly bagged $6.5m in its Series A round. The company provides plans to help per owners to make savings and prepare for the costs of the vets.