US savings app Super.com lands $85m in Series C fundraise
San Francisco-based savings app Super.com has secured $85 million in a Series C funding round led by Inovia Capital, giving the firm a “significant” valuation boost since its $85 million Series B funding in 2021.
Super raises $85m in Series C fundraise
New investors, including a number of angel investors, join existing investors Inovia Capital, Telstra Ventures, Acrew, Lion Capital, NBA superstar Steph Curry, and more.
Formerly known as SnapCommerce, the company rebranded to Super and launched SuperCash – a cashback card that allows users to build credit with each transaction – in October 2022. With its expansion into fintech, Super aims to offer an “all-in-one savings super app” for Americans.
With the new funding, Super says it will scale its product and engineering resources “to meet demand for multiple features that customers are asking for” within its app.
Daniel Weisenfeld, chief financial officer of Super, says the latest fundraise is proof that the firm can scale its business “responsibly”, allowing it to “continue investing in growth while driving improving margins”.
Founded in 2016 by CEO Hussein Fazal and chief operating officer Henry Shi, Super offers customers deals and savings across categories such as travel and shopping via its mobile app, alongside its newly launched cashback card in partnership with Mastercard. It claims to serve over five million customers.
