Fintech app Dosh has closed a $40 million Series B financing round, including $20 million in equity and $20 million in venture debt. The financing was led by Goodwater Capital and Western Technology Investment (WTI), with participation from investors PayPal, BAM Capital and Anthem Venture Partners.
Texas-headquartered Dosh is behind a card-linked offer platform and fintech app that allows users to automatically earn instant cash back on their purchases from hotels, stores and restaurants across the US. The app is available for iOS and Android and has seen strong growth in the past year, including delivering over $50 million in cash back to millions of consumers and achieving the top position in the US App Store.
Ryan Wuerch, founder and CEO, said:
“Consumers are tired of having their data used and sold to drive advertising revenues for companies. Dosh moves advertising spend directly into consumers’ wallets. We are empowering consumers for the first time to benefit from their own data, while bringing merchants new customers and greater revenues.”
Chia-Hua Chien, co-founder and managing partner at lead investor Goodwater Capital, adds:
“Dosh’s mission is to put billions of dollars of wasted advertising spend directly into consumers’ pockets. They are the clear leader in the rapidly growing card-linked offers market and we are confident this latest round of funding will accelerate their achievement of that mission.”
This financing will be used to further accelerate product innovation, advance technical capabilities, create personalised experiences for consumers and grow the team.