Cashdrop, a Chicago, IL-based mobile-first contactless commerce platform targeted at small business owners, raised $2.7m in seed funding.
The round was led by Harlem Capital with participation from other venture firms including Founder Collective, Long Journey Ventures, and M25 and individual investments from Silicon Valley investor and founder Cyan Banister, Behance founder and Adobe’s Chief Product Officer Scott Belsky, Fullscreen (acquired by AT&T) founder George Strompolos, and YouTube pioneer Michelle Phan.
Formed in 2020 by Ruben Flores-Martinez, Cashdrop allows businesses to create an online storefront from their phone without paying commissions or monthly fees on contactless sales of food, retail goods, services or ticketed events.
The company’s offerings include contactless ordering, automatic text updates, and sales analytics. It also provides a fast and easy checkout experience for consumers who can order through the web-based platform, with no app download or login required.