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African Startup Funding Tracker

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Fintech Platform ThankUCash Raises USD 5.3 Mn Seed Fund To Expand
Fintech Platform ThankUCash Raises USD 5.3 Mn Seed Fund To Expand

ThankUCash, a multi-merchant rewards platform, has raised USD 5.3 Mn in seed funding as it plans expansion into new markets and further product launches. The seed round was co-led by 500 Global and Unicorn Growth Capital, with participation from Expert Dojo, Predictive VC, SaaS Growth Ventures, Betatron, Accelerex Holding, former HSBC CEO Andrew Dell, Google director of strategy and operations Craig Fenton, and others.

ThankUCash offers cashback on purchases and deals from thousands of merchants, which in turn helps merchants retain customer loyalty, increase revenues, and grow. ThankUCash plans to use the funds to scale operations to other cities across the country and expand to Ghana and Kenya. It will also introduce two new products, a remittances service and a “buy now, pay later” (BNPL) infrastructure.