In a Series A funding round led by Tiger Global, the shopping experience platform Accrue Savings has raised $25 million in funding.
In addition to Aglaé Ventures, Maple Ventures, and executives such as UPS CEO Carol Tomé and Fanatics CEO Michael Rubin, the round also saw participation from Aglaé Ventures, Maple Ventures, and others. As part of the existing investor group, Red Sea Ventures, Box Group, Twelve Below, Ground Up Ventures, Cap Ventures, Silas Capital, and Good Friends were involved. It must be noted that Accrue has now raised nearly $30 million in total funding as a result of this recent fundraising round.
It was founded in 2021, and Accrue makes the claim that by enabling consumers to save money along the way, it will reward them with cash incentives as a reward for saving. There is no doubt that brands who partner with Accrue are experiencing immediate results when it comes to their top-of-funnel marketing efforts thanks to Accrue.
Using Accrue Savings, retailers can engage with customers early in the consideration phase by offering a savings-based purchase plan on their website, as well as through targeted email and SMS campaigns that are designed to engage customers.
This funding will be used by Accrue to expand retail partnerships, enhance hiring efforts across all departments, including engineering, sales, and marketing, and boost new product development efforts.
“We have been blown away by the response we have received from consumers and retailers since Accrue Savings launched,” said Accrue Savings CEO Michael Hershfield. The fact that so many brands are looking to provide meaningful payment options for consumers is really pleasing to us. There is a significant opportunity in bringing on an institutional investor like the venerable Tiger Global in order to create a more diverse and healthy ecosystem of financial technology that will enable a wider range of consumers to benefit from more prosperous shopping experiences.”
Shopping experience platform Accrue Savings has raised $25 million from a Series A round headed by Tiger Global.
In total, 28 startups pitched to a panel of judges, including several top-tier investors, executives and entrepreneurs, including David Sacks, co-founder of Yammer and founder of General Catalyst; John Foley, managing partner at Maple Venture
Former investors included Red sea Ventures, Box Group, Twelve Below, Ground Up Ventures, Capital Ventures, Silas Capital and Good Friends.
Following this recent funding round, Accrue has now raised total funding of close to $30 million.
Founded in 2021, Accrue claims it helps consumers save for purchases while earning rewards from the brand along the way.
Brands that partner with Amazon are realizing an immediate impact on their top-of-funnel marketing efforts.
When your brand sells online, it’s a good idea to offer your customers a special discount, a buy-one-get-one-free promotion, or other incentives to get them to buy from you when they are ready to
According to Accrue, they will use the new funding to strengthen their retail partnerships, bolster hiring efforts across all departments, including engineering, sales, and marketing.
I’m not surprised by the positive reaction, but even more so by the fact that you’re asking me how it all went. Well, the response to the launch has been overwhelming.
There are so many companies offering this option, we’re delighted to have a wide range of options to choose from.
In addition to the potential for innovation, we believe that partnering with Tiger Global gives us access to one of the premier investors in the world. We’ve made tremendous progress, but it will take all hands on deck to bring this vision to life.