Bitmo, a San Diego, CA-based mobile gifting and payment platform, raised over $3m in seed funding.
Backers included Jeff Haux, Everplus Capital, Longboard Capital Advisors, and several Southern California-based family fund offices.
The company intends to use the funds to accelerate growth of its consumer platform, expand its retailer-focused enterprise products, and build out marketing, sales, product, finance and engineering departments, as well as expanding its office in Carlsbad, CA.
Founded in 2017 by Michael Smallwood, CEO and founder, Bitmo is a mobile platform that allows consumers to gift securely right from their mobile wallet. Unlike plastic gift cards, it allows users the ability to split and exchange card value from one store to another for free.
The solution also provides retailers a unique way to directly engage with customers on their platform of choice. For retailers, Bitmo uses intelligent data to connect the right customer to the right store while driving measurable revenue for 130 nationwide brands already integrated on the platform including Nike, Nordstrom, Old Navy, Regal Cinemas, Macy’s, Sephora, Petco, GameStop, Panera Bread, Yard House, and The Coffee Bean and Tea Leaf.