Dosh, an Austin, Texas-based fintech app, closed a $40m Series B financing.
The round included $20m in equity and $20m in venture debt.
The round was led by Goodwater Capital and Western Technology Investment (WTI), with participation from investors PayPal, BAM Capital and Anthem Venture Partners.
The company intends to use the funds to further accelerate product innovation, advance technical capabilities, create personalized experiences for consumers and hire talent.
Led by Ryan Wuerch, founder and CEO, Dosh has created a card-linked offer platform and fintech app that automatically puts cash into the wallets of consumers whenever they shop and dine. It connects merchants directly to consumers, driving customers online and in-store to purchase more often, spend more money and share within their networks.
The company’s platform:
- Provides a data-driven understanding of consumer purchase behavior in categories such as retail, dining, fuel and home improvement;
- Delivers cash back to consumers by learning about their preferences and suggesting the best places to shop, including Dunkin’, Pier 1, Pizza Hut, Sam’s Club and Sephora;
- Automates performance driven campaigns leading to new customers, winning back lapsed customers, increased frequency and higher average order value; and
- Creates social engagement to increase brand visibility and new customer acquisition for merchants.