Dosh, the US-based creator of a voucher-based marketing platform, has closed a $44m series A round that included payment technology provider PayPal, venture capital firm Goodwater Capital and unnamed institutional investors.
Dosh has built an online platform which businesses and brands use to provide cash-back offers to customers of shops, restaurants or hotels to promote loyalty, while gaining behavioural data on consumers.
The company claims the platform has paid back $25m to users since it launched its app in 2017, and that it has added more than 3 million new users in the past four months alone. It will put the series A capital toward product development.
Ryan Wuerch, founder and chief executive of Dosh, said: “The support from our new and existing investors means we can continue to accelerate our vision of moving billions of dollars to millions of people.
“We are focused on creating the leading financial services platform for brands and merchants to connect directly with their consumers. With this additional funding, we can continue hiring the highest-calibre employees and rapidly growing our customer base and merchant partners.”
The series A round comes after Dosh raised $2m in a March 2017 seed round that increased its total funding at that point to $6m.