Fondue's seed capital is worth $10.5 million, according to investors

Fondue's seed capital is worth $10.5 million, according to investors ...

Fondue receives $10.5 million in seed capital from investors.

Fondue CashBack, a Shopify software company with offices in New York and Tel Aviv, Israel, has raised $10.5 million in seed money to replace discount codes with brand-embedded CashBack.

Infinity Ventures, Ground Up Ventures, Starting Line, Gaingels, Verissimo Ventures, Samsung Next, and JAM Fund all contributed to the round, which was led by Quiet Capital and Hanaco Ventures.

With this investment, the business may accelerate its go-to-market efforts and invest more heavily in product development and the offline CashBack channel.

Fondue, headed by CEO Oren Charnoff, CTO William Herlands, and COO Abraham Lucey, helps brands increase conversion and profit. After the fact, customers are notified whether or not a reward is eligible, including but not limited to additional store credit, gift cards, cash, and other services.

Fondue serves over a hundred different businesses, from startups to large corporations, from dropshippers to DNVBs to marketplaces.

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