TLDR:
- Benjamin Capital Partners secures $5.5 million in seed funding round to fuel growth.
- Investors include Play Ventures, F4 Fund, Anton Gauffin, Shane Happach, and Ilkka Teppo.
Benjamin Capital Partners has successfully closed a seed funding round, raising a total of $5.5 million from leading venture capital funds such as Play Ventures and F4 Fund. The funding will be used to accelerate growth for the Benjamin cash rewards app, which has experienced significant consumer demand and revenue growth since its launch in October 2023. The app has already garnered over 300,000 installs and 195,000 monthly active users, with many users earning substantial cash rewards. The raise also marks the appointment of Lon Otremba as the new CEO of Benjamin, who brings extensive experience in media, marketing, and technology to the role. The Benjamin app aims to revolutionize the consumer cash rewards arena by enabling users to earn rewards on various everyday activities, including purchases, mobile gaming, and viewing ads. With a focus on gaming, daily cashback earnings, and social money features, Benjamin is poised to become a key player in the cash rewards space by offering a comprehensive and versatile platform for consumers. The company’s innovative approach has attracted the interest of investors like Play Ventures and F4 Fund, who believe in the potential of Benjamin to redefine lifestyle products in the category. Overall, the seed round funding and strategic partnerships position Benjamin for future growth and success in the competitive fintech landscape.
