The funding round was led by Inovia Capital and it showed an increase in the valuation of the company since its Series B raise that was held in March 2021.
This raise follows the launch of SuperCash, a cashback card solution that was designed to provide customers with the possibility to build credit without the challenges that might occur within the traditional financial industry.
The focus of the company is on the customers and their needs, as many are typically lower income and have lower credit scores, making it difficult for them to reach their financial goals. The application provides discounts and savings across multiple categories and groups of customers.
Following this raise, Super.com aims to use the funds to continue its expansion process, as well as its ways of offering the needed solutions for clients to save money and keep an eye on their balance. The company will be scaling services and engineering sources in order to meet the demands of the market and users, such as multiple possible features that they would want within the app.
Included in Super.com’s suite of solutions are the SuperCash, SuperTravel, and the SuperShop tools.
The SuperCash feature offers customers multiple benefits, such as the possibility to earn unlimited cashback and to build credit in an easy and secure manner. The unlimited cashback raises between 2% and 10%, with no minimum balance, credit checks, or fees, as well as the capability to boost the user’s credit score while using it.
The customer needs to link their bank to the application in order to put some of the cash in their new SuperCash account. Following this process, they can spend, save, or earn money. The virtual card will be ready to be used from the moment the account was opened, but clients have the possibility to choose a physical card, which will arrive to them in the main. The feature is free to use on the application, and it represents a secure solution as it uses bank-level security and encryption.
The SuperTravel feature provides users with the possibility to book trips with travel agency discounts, with the capability to have a 50% discount on hotels. The clients need to sign up with their phone number in order to access the available deals and choose from multiple hotels in order to book their stay while benefiting from 24/7 customer support.
The SuperShop represents a platform that offers users access to multiple deals and discounts. This includes electronics, essentials, health and outdoor, fashion, software and media, furniture, and more.
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