CashStar, a Portland, Maine-based provider of prepaid commerce solutions, closed $15m in Series D funding.
The round was led by FTV Capital with participation from new investor Mosaik Partners and existing investors Passport Capital, Intel Capital, North Hill Ventures and others. In conjunction with the funding, Miles Kilburn, Mosaik’s founder, joined CashStar as board observer.
The company, which has raised $50m in total, intends to use the funds to continue investing in product innovation, sales and client success.
Led by Ben Kaplan (president and CEO) and recently hired Martin Hood (vice president of channel partnerships) and Matt Kerper (vice president of strategic business development), CashStar provides prepaid commerce solutions to retailers and restaurants to optimize digital gifting and prepaid commerce experiences.
It serves more than 300 leading brands worldwide including Best Buy, Brookstone, Coach, Crate & Barrel, Dell, Dunkin’ Donuts, Gap, lululemon athletica, Nine West, Office Depot, Petco, Pottery Barn, QVC, Sephora, Staples, Starbucks, The Cheesecake Factory, The Home Depot and Williams-Sonoma.