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Rewards platform, ThankUCash, closes $5.3m seed fund

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The multi-merchant rewards platform, ThankUCash, has closed its $5.3 million seed fund.

The startup helps businesses and banks integrate data analytics.

Although ThankUCash is currently operating in Nigeria’s three major cities – Lagos, Abuja, and Port-Harcourt, the fund is expected to finance the startup’s expansion plans across other cities in Nigeria.

It is also expected to use the new fund to expand operations into other countries including Ghana and Kenya.

READ ALSO: Nigerian govt proposes bill to provide seed funding for startups

Several personalities and groups including Expert Dojo, Predictive VC, SaaS growth Ventures, Betatron Hong kong, Accelerex Holding, Andrew Dell (former CEO of HSBC), and Craig Fenton (Director, Strategy & Operations at Google) took part in the funding round co-led by 500 Global and Unicorn Growth Capital.

The startup was founded in 2018 by Simeon Ononobi, Suraj Supekar, Madonna Ononobi, and Harshal Gandole.

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