Dosh, the US-based operator of an offer-based advertising platform, secured $40m in debt and equity financing yesterday from investors including payment technology provider PayPal.
The financing consisted of a $20m series B round co-led by Goodwater Capital and Western Technology Investment and also backed by Bam Capital and Anthem Venture Partners that valued Dosh at $300m according to TechCrunch, and $20m in debt financing.
Founded in 2016, Dosh runs an app that links to users’ credit or debit cards and enables users to receive money back each time they buy a certain product. The service also functions as an online-to-offline engagement product for brand partners who can use it to help build customer loyalty.
The cash will support an increase in the company’s headcount and further product development, as it looks to add personalised experiences to the platform.
Ryan Wuerch, Dosh’s founder and chief executive, 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.”
The round increased the company’s overall equity funding to $70m and followed a $44m series A round in April 2018 that included PayPal, Goodwater Capital and undisclosed institutional investors.
