The exact amount of the deal was not disclosed.
The round was led by GGV Capital with participation from Harbor Spring Capital, Haystack Partners, Jim Clark and Tom “TJ” Jermoluk. In conjunction with the funding, Hans Tung, Managing Partner at GGV Capital and GGV Vice President Robin Li will both become observers to Ibotta’s Board of Directors.
The company intends to use the funds to continue to expand operations.
Launched in 2012 by Bryan Leach, CEO, Ibotta partners with brands and retailers to offer rewards on groceries, electronics, clothing, gifts, home and office supplies, restaurant dining, and more. consumers are rewarded for making everyday purchases online, in mobile apps and at retail stores.
Recently, the company expanded its Mobile Marketplace with 20+ new additions, including leading brands such as Uber, iTunes, Booking.com, Boxed, eBay, Groupon, Hotels.com, Jet and more.
Ibotta has nearly 23 million downloads.
FinSMEs
25/07/2017