On Me Partners with Mastercard and Announces $1.7M pre-seed round Led By Lerer Hippeau To Revolutionize Digital Gifting

Personalized digital gifting platform emerges from stealth with backing from Mastercard, Lerer
Hippeau, and Focal VC

SAN FRANCISCO, Dec. 4, 2024 /PRNewswire/ -- On Me, the personalized digital gifting platform, announces a 5-year industry partnership with Mastercard and $1.7m in pre-seed funding from the NY-based VC firm Lerer Hippeau and Focal.VC as it emerges from stealth today. Co-founded by Darragh Meaney and Sitar Harel, two former Google Product Managers, On Me will use the funds to expand its retailer partnerships and build out R&D as it aims to transform the $200B gift card industry. Advancing the industry from magnetic swipe technology pioneered in the 1980s to sleek, modern mobile wallets, with Apple Pay and Google Pay integration, On Me provides consumers with the ability to purchase and checkout seamlessly with just a few taps on your phone.

On Me tailors each gift card around a specific hobby or interest, reshaping the traditional single-store gift card model. The "Running, On Me" gift card, for instance, grants access to 25 top running brands like HOKA, Nike, Adidas, Reebok, and REI. This multi-store approach reflects how today's runner sources gear from multiple retailers, ensuring they find the ideal shoes, apparel, and accessories for their next race. On Me's platform offers 70+  gift cards and 2,000+ affiliates to shop with, spanning categories from running to reading, DIY to dance—each card being valid across a curated selection of top retailers.

Today's consumers are accustomed to the vibrant, media-rich experiences offered by platforms like TikTok, YouTube, and Instagram. On Me seeks to bring that same dynamic to gifting, infusing gifts with video notes, photos, and GIFs to create truly personal and meaningful exchanges. "Traditional gift cards have fallen behind in the digital age," says Darragh Meaney, CEO of On Me. "We're reshaping this space with experiences that are not only highly personalized but also built for seamless integration with modern smartphones."

In 2023, gift card-related fraud accounted for $217 million according to the Federal Trade Commission, highlighting how weak security features make traditional cards an easy target. On Me addresses this issue by building its platform on modern payment infrastructure, delivering a fast and secure gifting experience. With Two-Factor Authentication (2FA) integrated across all transactions, the platform tackles the security gaps of traditional gift cards. On Me is designed to be both safe and seamless. Mobile payments utilize on-device encryption, ensuring each transaction is not only quick but also highly secure.

On Me is committed to addressing the environmental impact of gifting. The U.S. Environmental Protection Agency (EPA) classifies vinyl chloride, the primary component of polyvinyl chloride (PVC) used in most gift cards, as a human carcinogen. In 2021 alone, 3.4 billion plastic gift cards were sold in the U.S., each containing an average of 5 grams of plastic, resulting in 37.5 million pounds of non-biodegradable waste. Traditional gift cards contribute significantly to plastic pollution, highlighting the urgent need for sustainable solutions.

On Me is deeply committed to reducing the environmental impact of the gift card industry.  In 2021 alone, 3.4 billion 'single swipe' plastic gift cards were sold in the U.S., each containing an average of 5 grams of plastic. This adds up to 37.5 million pounds of non-biodegradable waste. The Environmental Protection Agency (EPA) classifies polyvinyl chloride (PVC), the material used in most gift cards, as hazardous and carcinogenic. On Me's entirely digital platform eliminates this waste, offering a more sustainable approach while ensuring each gift is truly aligned with the recipient's passions and interests.

Allowing recipients to choose their own gifts ensures they receive something they truly value. Research shows that Christmas alone generates $16 billion in gifts that go straight to landfill, with nearly one in four Americans receiving a gift they don't want. By empowering recipients to make their own selections, On Me is committed to creating a greener, more responsible gifting experience that deepens the personal connection behind every gift.

While On Me currently offers 70+ interest-based digital gift cards, the platform's vision extends beyond products to include curated experiences. Soon, On Me users will be able to gift adventures like skydiving, horseback riding, cooking classes, and wine tastings, reflecting On Me's ethos of creating memorable moments, not just transactions.

With the global digital gift card market projected to reach $1.2 trillion by 2032 according to research, On Me is well-positioned to lead the evolution of digital gifting. Backed by a five-year partnership with MasterCard and leading consumer VC Lerer Hippeau, the company aims to capture a significant share of this rapidly growing market.

For more information and to explore On Me's diverse gifting options, visit OnMe.com.

ABOUT ON ME
On Me is a digital gifting platform that transforms the traditional gift card experience into a modern, personalized journey that enables users to explore, purchase and send gifts to loved ones. With a focus on ease, personalization, and sustainability, On Me allows users to browse hundreds of retailers and select gift cards based on specific hobbies and interests. Users can customize gifts with videos, images, and messages that reflect thoughtfulness, ensuring each gift is meaningful and shareable. On Me seamlessly integrates with mobile wallets, making gifting accessible and practical from anywhere. Backed by MasterCard, Lerer Hippeau and Focal, On Me's mission is to strengthen relationships through magical gifting experiences, offering a more thoughtful and eco-friendly alternative to traditional gift cards. To learn more, follow On Me on LinkedIn and Instagram.

SOURCE On Me