Billaway, a Boston, MA-based provider of a rewards program for utilities, closed a $1.1m seed funding.
The round was led by the Funding Farm with participation from Boston-area angels and management.
The company intends to use the funds to add new team members and execute on new partnerships.
Led by Paul Harkins, CEO, Billaway provides utilities with a platform to convert a portion of a consumer’s everyday spending into a direct reduction of utility bills. Utility customers earn credits by shopping at more than 20,000 participating grocery, drug, general purpose and online stores using their registered credit, debit and store loyalty cards. They then redeem those credits at the time of online payment to reduce their monthly bills.
The company currently manages loyalty programs for more than 60 energy providers and utilities.