Total amount raised
$200.2 Millions
Latest funding date
Location
Super.com has successfully raised $25 million in its latest funding round, attracting investment from Acrew Capital and 15 other investors. The platform offers a saving app designed to help users spend less, save more, and build credit.
Keep reading to explore the intricacies of Super.com's fundraising journey and the investors backing this innovative platform.
What Is Super.com?
Super.com, founded in 2016, is a San Francisco-based company that offers a saving app designed to help users spend less, save more, and build credit. The platform provides various financial services, including cashback rewards, credit building, and cash advances.
Founded by Henry Shi and Hussein Fazal, Super.com aims to empower users with tools to enhance their financial well-being. The company also offers a secured credit card and a subscription service for additional financial benefits.
With a team of 251-500 employees, Super.com continues to innovate in the financial technology space, providing essential services to help users manage their finances more effectively.
How Much Funding Has Super.com Raised?
- Seed Round
- Amount Raised: $1.2M
- Date: July 2016
- Lead Investors: Bee Partners, Lightbank
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the development of their savings app and build initial traction.
- Series A
- Amount Raised: $7.8M
- Date: July 2017
- Lead Investors: Inovia Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and enhance the app's features.
- Series A
- Amount Raised: $7.2M
- Date: December 2018
- Lead Investors: Stephen Curry, Titanium Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and increase user acquisition.
- Venture Round
- Amount Raised: Not disclosed
- Date: June 2020
- Lead Investors: Not disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support ongoing growth and product development.
- Series B
- Amount Raised: $79M
- Date: March 2021
- Lead Investors: Inovia Capital, Lion Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth and expand product offerings.
- Debt Financing
- Amount Raised: $20M
- Date: March 2021
- Lead Investors: Not disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To provide additional working capital for scaling operations.
- Series C
- Amount Raised: $60M
- Date: April 2023
- Lead Investors: Inovia Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale the business and enhance product features.
- Debt Financing
- Amount Raised: $25M
- Date: April 2023
- Lead Investors: Inovia Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support financial stability and growth initiatives.
Total Amount Raised: $200.2M. Current Valuation: Not publicly disclosed.
Key Investors
- Inovia Capital
- Details: Inovia Capital is a leading venture capital firm that has been a long-term partner of Super.com. They have supported the company through multiple funding rounds, including the recent Series C.
- Investment Focus Areas: Technology, innovation, fintech.
- Notable Investments: Lightspeed, Clearco, AppDirect.
- Lion Capital
- Details: Lion Capital is a private equity firm specializing in consumer brands. They have a history of investing in companies that have strong brand identities and growth potential.
- Investment Focus Areas: Consumer brands, retail, food and beverage.
- Notable Investments: Kettle Foods, Jimmy Choo, AllSaints.
- Stephen Curry
- Details: Stephen Curry is an NBA superstar and investor. He has diversified his portfolio by investing in various tech and consumer product startups.
- Investment Focus Areas: Technology, consumer products, sports.
- Notable Investments: Under Armour, Palm, Oxigen.
- Titanium Ventures
- Details: Titanium Ventures is a venture capital firm that focuses on early-stage investments. They aim to support innovative startups with high growth potential.
- Investment Focus Areas: Technology, innovation, early-stage startups.
- Notable Investments: Not publicly disclosed.
- Bee Partners
- Details: Bee Partners is an early-stage venture capital firm. They focus on investing in visionary founders and disruptive technologies.
- Investment Focus Areas: Technology, early-stage startups, disruptive innovation.
- Notable Investments: Not publicly disclosed.
What's Next for Super.com?
Super.com is poised to capitalize on the growing demand for financial inclusivity and the rise of "super apps." With the expansion of its SuperCash product and the scaling of its product and engineering resources, the company aims to provide deeper discounts and savings across various categories. The recent $85 million Series C funding round underscores the significant market potential, with Super.com already saving customers over $150 million and experiencing triple-digit growth in SuperCash users and transactions.
Future fundraising opportunities appear promising, given the strong investor confidence and the company's diversified business model. However, Super.com will need to navigate challenges such as competition from other fintech companies, regulatory hurdles, and maintaining customer trust while scaling rapidly. As the company continues to innovate and expand, it may also explore strategic acquisitions to enhance its offerings and market reach.
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