CardCash.com, a Brick, NJ-based secondary gift card exchange, closed a $6m growth funding.
Guggenheim Partners, a global financial services firm, made the investment.
The company intends to use the funds to continue to enhance its exchange.
Led by Elliot Bohm, CEO and co-founder, and Marc Ackerman, COO and co-founder, CardCash.com provides a secondary gift card exchange on which consumers can buy, sell, and trade unused gift cards.
Recipients of gift cards can sell their cards on the exchange and get cash, which can then be used to use to pay their rent or mortgage, or to buy basic necessities. At the same time buyers can save on average 10-15% off at their favorite merchants by purchasing gift cards at a discount.