FlipGive, a Toronto, Canada-based platform for youth sports teams across North America to raise money, raised $5m in Series A funding.
Backers included Framework Venture Partners, iGan Partners and FJ Labs.
The company intends to use the funds for:
– talent growth,
– development of enhanced product features,
– addition of brand partners, and
– increased marketing for member acquisition.
Led by CEO Mark Bachman and CTO Nicholas Lee, FlipGive is a free team funding app to raising money. Teams earn cash when they shop with their favourite brands for groceries, gas, clothes, equipment, meals out, travel and more. The company partners with hundreds of national brands to provide cash back from purchases made through its platform. Some of these include Apple, Under Armour, Walmart, Home Depot, Nike, and Buffalo Wild Wings.
Over $20M has been raised by over 35,000 teams and clubs, from their everyday spending at their favorite retailers and restaurants.