HyperJar, a London-based fintech, has netted $24 million in Series A funding. The round was led by Susquehanna Private Equity Investments, LLLP, and includes the Healthcare of Ontario Pension Plan “(HOOPP)”.
The fintech intends to use the capital to go on a recruitment binge, bolstering the company’s business development teams and B2B sales teams in both the UK and further afield.
Rob Rooney, HyperJar’s CEO, stated: “In a very tough fundraising environment, this investment represents terrific confidence in what we’ve built so far and in HyperJar’s future as a global Business. There’s a massive greenfield opportunity for organisations everywhere to offer their customers exceptional spending tech via HyperLayer, and this $24mm raise gives us the fuel to accelerate both B2B and B2C product development and to expand internationally into North America, Europe, and other growth markets.”
Digital payment and personalised rewards platform
Founded in 2016 and launched in 2020 by Mat Megens and Paul Rolles, HyperJar finds spending money as the world’s most important asset class and an unserved global market opportunity.
Its B2C digital wallet with over half a million customers in the UK, helps people manage their spending intentionally using world-first tools. It is an engaging app with a debit card that helps people to Spend Life Well. Behind the simple idea of managing money in digital jam jars is a lot of world-first tech, giving people access to all types of rewards from leading brands, alongside the tools to partition, plan, share and control their money.
HyperJar gives merchants a targeted and contextually relevant channel to drive desired consumer outcomes effectively and accurately through its rewards engine.
The company also offers HyperJar Mastercard debit card, which lets users create jars for expenses and spend directly from them. It’s also the perfect travel card that does not charge any foreign exchange fees.
Helps organisations that want to offer spends
HyperLayer, the company’s B2B venture gives global enterprise customers access to the
underlying HyperJar tech for spending, transactions, rewards capabilities, and more. It offers banks revolutionary consumer and social network functionality to compete with digital-first challengers, helping deliver new revenue streams and satisfy Consumer Duty obligations.
Also, it enhances the customer propositions of other enterprise clients, including asset managers, pension funds, merchants, and any organisation whose clients are also spenders.