AUSTIN, Texas, March 22, 2017 /PRNewswire/ -- Dosh, a free new app that finds cash for consumers when they use their credit and debit cards while shopping, dining out, and traveling, today announced that they have raised a $2 million seed round. The new funding brings total investment in Dosh to more than $6 million. The investment will be used to further enhance the Dosh platform and drive both merchant expansion and customer acquisition during the company's launch.
Currently, Dosh is entering private beta, where thousands of consumers will receive the cash back promise of the platform. The innovative commerce platform, the rapid integration of tier one merchants and global brands, plus launch partners who will engage more than 40 million of their consumers, prompted private equity firms and high net-worth individuals to invest in the most recent seed round of funding.
"Our executive team has been instrumental in bringing Dosh to market and attracting high-caliber investors to the company," said Ryan Wuerch, founder and executive chairman of Dosh. "The expertise we have across many different verticals has enabled us to develop a first-of-its-kind app and technology ecosystem. Every day, we are focused on delivering market-first technology that will drive billions of dollars back to consumers."
Dosh already includes more than 100,000 brands and merchants. The Dosh commerce platform ensures that consumers have a seamless experience earning instant cash back on their everyday purchases by simply downloading the app and securely connecting their credit and debit cards. Using proprietary technology, Dosh has eliminated the need to use coupons, scan receipts, select offers, or find coupon codes through a website. Dosh benefits merchants by enabling them to micro-target customers with customized offers while only paying for offers redeemed.
"I've been involved and invested in some of the most successful companies in technology around the world, and I believe Dosh's market potential is enormous. The company is positioned to create billions of dollars of value, and its leadership team has the track record to make it happen," said Charles Kim of China Renaissance Group.
Dosh is the vision of Ryan Wuerch, a serial entrepreneur who previously founded Solavei and Motricity both leaders in the mobile service space. Wuerch grew Motricity into a publicly-traded enterprise worth more than $1 billion before founding Dosh. Joining him is an executive team with successful experience at Amazon, American Express, Bain & Company, First Data, Iron Mountain, Stella & Dot, and more. The team includes:
Ed Mock, co-founder and executive vice president of product and innovation
Mike Lohner, co-founder and chief strategy officer
Moshe Joshua, chief technology officer
Jeff Federman, chief revenue officer
Allyn Hebner, chief financial officer
Chris Turnley, chief commercial officer
Huntley Tarrant, senior vice president of operations
Kenneth Douglas, senior vice president of mobile wallet solutions
Ted Mooney, senior vice president of merchant and travel solutions
Marcy Comer, vice president of marketing
Joy Jamon, vice president of customer delivery & support
DOSH, a fintech company, developed market-first technology that includes a consumer app, mobile wallet, and merchant platform integrating a cash back offers ecosystem easily utilized through secured credit and debit cards. Dosh enables consumers to instantly get cash back "automagically" from more than 100,000 merchants and brands while shopping, dining, and traveling - all without thinking and working for it. Dosh helps merchants understand predictive behavior and create a virtuous cycle of consumer acquisition, loyalty, and social sharing with deep data analytics. "You've got DOSH"