(Ecofin Agency) - Nigeria’s ThankUCash announced it has successfully raised $5.3 million to expand in its main market and beyond, mainly in Ghana and Kenya. Before this operation co-led by VCs 500 Global and Unicorn Growth Capital, the multi-merchant rewards platform secured pre-seed funding in February 2021.
According to data published by Techcrunch, ThankUCash -a subsidiary of data analytics company Connected Analytics- claims to have registered more than 600,000 users and integrated over 1,000 stores on its platform. The startup also claims to have processed over $80 million in transaction volume.
This new fundraising reflects the interest in customer loyalty startups, especially in Nigeria where companies active in this segment are not among the ones that raise high amounts in fundraising operations.