Benjamin Capital Taps Joseph Jaffe As First CMO To Accelerate 'Money Moments' Marketplace

Innovative fintech player brings on board Madison Ave Renaissance Man to build its consumer brand and marketer solutions in the cash-based universal engagement arena

DELRAY BEACH, Fla. and OULU, Finland, Nov. 18, 2024 /PRNewswire/ -- Benjamin Capital Partners announced today it has hired Joseph Jaffe as its first Chief Marketing Officer. Jaffe has been a prominent thought leader in marketing over the past quarter-century, authoring six books including "Life After the 30-Second Spot" and "Flip The Funnel." Along the way, he also launched crayon, one of the world's pioneering social media agencies.

Jaffe, who will report to CEO Lon Otremba, is charged with bringing his broad perspective on the ever-changing marketing ecosystem, corporate dynamics, and the consumer zeitgeist to build a next generation brand and engagement platform. "When I wrote 'Life after the 30-second spot' in 2004, I imagined a better way to connect brands and their consumers. I never thought I would find the realization of that 20 years later at Benjamin," said Jaffe.

The Benjamin app, a cash-based engage-to-earn platform, provides consumers opportunities to receive cash in exchange for their time, attention or engagement. From downloading apps to playing games; from watching ads to sharing insights. From daily purchases of groceries to Netflix.

As the ad industry struggles with how to maintain scale of accurate digital ad targeting and measurement in the face of signal loss and an increasingly strict consumer privacy regulatory environment, brand marketers are focusing increasingly on harnessing and applying first-party, consented data. With Benjamin's comprehensive, cross-vertical coverage, the company is poised to become a major partner with leading brands across the spectrum.

Benjamin is on a mission to put one or more Benjamins ($100) in every user's pocket every single month. "We are in a unique position to make a meaningful difference in everyday consumers' lives, especially during challenging times - and we can have fun doing it," says Jaffe. "Our opportunities to earn are called Money Moments or MoMos for short. MoMos are any potential cash-based exchange of value between brands and their consumers."

Since coming out of beta in October 2023, the Benjamin app has already had over 2 million downloads. Growth of monthly active users from the beginning of this year is well over 20X - and that rate is accelerating.

Otremba, an ad sales and revenue leader across a range of prominent media brands–PC Magazine, CNET, AOL, & Bidtellect– shares this excitement and opportunity for Madison Avenue. "Our vision is for Benjamin to be the facilitator of a comprehensive cash-based universal engagement platform across the full range of merchants and leading brands with which consumers interact on a daily basis," says Otremba. "There was just no way we could do that with a cookie cutter CMO. We needed someone unique who innately embodies innovation, creativity and curiosity. I've known Joseph for over 20 years and it's both refreshing and exhilarating to finally work together to realize this bold vision."

Jaffe's hire comes closely on the heels of the acquisition of New Thing Co., an Austin, TX-based leader in creating engaging customer experiences on behalf of brand marketers, featuring its proprietary augmented reality rewards tool and technology. This tool will be integrated into the Benjamin app. This coincided with a $13 million capital raise, including both debt and equity, from existing investors Play Ventures and Big Bets VC. This fundraising was orchestrated by industry veteran Jordan Rohan, who joined Benjamin over the summer as its Chief Financial Officer.

"Consumers expect more from the brands and merchants they do business with," said founder, Erno Tauriainen. "Our goal is that the Benjamin wallet will become the universal currency of attention, engagement and ultimately loyalty. More money is not just the benefit to consumers; it's our promise to merchants, partners and brands as well." 

About Benjamin Capital Partners
Benjamin Capital Partners is the holding company for the Benjamin App, a new cash-based engage-to-earn platform for shoppers, consumers and gamers to earn Benjamin Money Moments by completing daily tasks, playing mobile games, viewing content and ads, and making everyday card purchases. Founded by industry pioneer Erno Tauriainen, and led by digital industry veteran Lon Otremba, Benjamin looks to innovate a number of massive industries, including shopping, gaming and digital advertising.

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SOURCE Benjamin Capital Partners Inc