Super.com has secured $85 million in its Series C funding round to expand its savings super app. The company intends to use the fresh capital to boost its product and engineering resources, introduce new features to its super app, and diversify ways in which it can assist customers to save money.
Super.com CEO Hussein Fazal mentioned that the firm’s comprehensive business model drives savings across various aspects of customers’ lives, from FinTech to travel. The savings super app, which targets everyday Americans, provides discounts and savings on shopping, travel, and other categories. The company expressed satisfaction with the market’s enthusiasm, which reflects its own excitement as it endeavors to build the first savings super app that caters to ordinary Americans. The announcement was made in a press release on April 24th.
According to a press release, the company provides a cashback card named SuperCash, which is designed to assist individuals with lower incomes and credit scores to establish credit.
The release stated that “the company observed that credit cards with the most attractive rewards and benefits were limited to people with higher income and credit scores, leaving those in need of savings with limited alternatives.” Co-founder of Super.com, Henry Shi, explained, “To address this issue, we spent the past year developing SuperCash from scratch to provide generous rewards, benefits, and purchasing power to everyone, regardless of their financial situation, credit score, or circumstances.”
After two years since the previous funding round, the company, then known as Snapcommerce, raised $85 million in March 2021 to develop products for price-conscious shoppers. Now, the company has completed a Series C funding round, with Inovia Capital leading the investment. In the press release, Inovia Capital Partner Chris Arsenault stated that the team was impressed with the company’s performance in the travel sector and is excited to continue supporting their journey, especially after the recent launch of SuperCash.
Super.com is an all-inclusive super app that enables everyday Americans to save money, gain access to credit, and enjoy more of life’s offerings. The Super.com app features the SuperCash card, which provides cashback and credit-building opportunities. In addition, the app offers deals and savings in areas like travel and shopping. With over 5 million customers globally, Super.com has helped people save more than $150 million to date. The company is supported by top-tier investors, including NBA Superstar Steph Curry, and has raised over $150 million USD and exceeded $1 billion in sales.