Social Good Foundation, a Tokyo, Japan-based provider of The SocialGood App, an app which gives users cryptocurrency rewards for shopping, raised $14.2m in Series A funding.
Miyako Capital made the investment.
The company intends to use the funds to continue to expand operations and its business reach.
Founded in 2018 by CEO Soichiro Takaoka and also led by CTO Andrew Tantomo, Social Good Foundation Inc. is an innovative fintech company with 68 Japanese patents related to cryptocurrency and blockchains. They created the SocialGood App, which gives Crypto Back rewards to online shoppers. The app (available on iOS and Android) is partnered with more than 1,800 major online stores, including AliExpress, eBay, Nike, and more. When users shop at partner sites through the app, they earn back up to 100% in SocialGood (SG) crypto. In 2021, Social Good Foundation Inc. received approval from the Governor of Tokyo for their business model and in 2022 they were supported by the Japanese governmental organization JETRO.
The app’s user base, primarily in the United States, is growing exponentially worldwide, to exceed 1.85 million users by the end of January 2022. It is already available in English, Chinese, and Hindi.
FinSMEs
04/03/2022