The “fastest-growing fintech app” and cash-back service, Dosh, announced a $40 million Series B funding — which includes $20 million in equity and $20 million in venture financing led by Goodwater Capital and Western Technology Investment. PayPal, BAM Capital and Anthem Venture Partners will also participate.
Hoping to negate the risk in empty advertising spend, the purpose of the Dosh app is in “giving them [merchants] a new way to reach and reward consumers.”
In the past year, Dosh has reached the top position in the U.S. Apple app store and connected millions of consumers with more than $50 million in cash back. This financing will be used to further “accelerate product innovation, advance technical capabilities, create personalized experiences for consumers and hire the highest-caliber talent.”
Speaking on the investment, Chi-Hua Chien, cofounder and managing partner at Goodwater Capital, said the following in a press release: “We are confident this latest round of funding will accelerate their achievement of that mission.”
“Consumers are tired of having their data used and sold to drive advertising revenues for companies,” said Ryan Wuerch, founder and chief executive officer at Dosh. “Dosh moves advertising spend directly into consumers’ wallets,” Wuerch reiterated.
Powered by data-driven insights and with a focus on value for the customer, Dosh is one fintech company ramping up capital and aiming to deliver results all the way through to the point of sale.