US-based payment claims services provider Earny has closed a $9m round featuring Comcast Ventures, the venture capital arm of mass media group Comcast, TechCrunch has reported.
VC firm Mayfield Fund led the round with participation from startup studio Science Inc, which also contributed to the company’s previous round, which closed at $2.5m in May 2016.
Earny is a service that automatically monitors and claims for refunds on past purchases through retailer and credit card price protection policies. It syncs with a user’s email account, monitoring their shopping activity through receipts.
When the platform identifies a purchase it then tracks the price of the items that were bought, contacting retailers to claim refunds if the price goes down.
The company claims its users get approximately 5% of their money returned to them. It generates revenue through a 25% commission on all the money it reclaims, and the new funding will be used to accelerate growth.