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§ Private Profile · Nairobi, Nairobi Area, Kenya
A mobile cashback platform for shoppers in Kenya, rewarding users with cashback on FMCG and grocery purchases to save on shopping costs.
CashBackApp is a Nairobi, Kenya-based financial technology platform that enables fast-moving consumer goods (FMCG) companies to build customer loyalty by offering mobile money rewards for everyday grocery purchases. The application allows retail shoppers to earn financial returns by scanning supermarket receipts or purchasing specifically promoted items, with the resulting payouts distributed directly through digital payment systems like M-Pesa. By the middle of 2021, the consumer platform had accumulated more than 45,000 application downloads and achieved a 38 percent user growth rate during the first half of the calendar year. To support its regional expansion and ongoing user acquisition strategies, the enterprise secured $475,000 in pre-seed funding in August 2021 from a syndicate of early-stage venture capital firms including Lofty Inc, Sherpa Ventures, and Loyal VC. CashBackApp was originally founded in 2019 by Simon Githinji Ngigi.
CashBackApp has raised $480K across 1 funding round.
CashBackApp has raised $480K in total across 1 funding round.
CashBackApp has raised $480K across 1 funding round. Most recently, it raised $480K Pre-Seed in August 2021.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| Aug 21, 2021 | $480K Pre Seed | — | Idris Ayodeji Bello, Loyal VC, Sherpa Ventures | Announced |
CashBackApp has raised $480K in total across 1 funding round.
CashBackApp's investors include Idris Ayodeji Bello, Loyal VC, Sherpa Ventures.