Fundraising platform FlipGive secures $5 million Series A to reinvent how teams fundraise
FlipGive, a free team funding app that makes it easy to raise money, has raised $5 million in a Series A to continue to accelerate its growth across the U.S. and Canada and further revolutionize how youth sports, member organizations, and clubs fundraise.
The round was led by Framework Venture Partners, a software-focused venture capital firm, with further participation from iGan Partners and FJ Labs, the investment will fund talent growth, the development of enhanced product features, and the addition of brand partners to enrich the value members receive from the platform. Funding will also support increased marketing and provide resources for member acquisition.
Launched in 2016, the Toronto, Canada-based FlipGive helps brands acquire new customers & drive loyalty. Its team funding app allows members to pool their spend as a group to earn cash from everyday shopping spend. FlipGive is aggregating the traditionally fragmented youth sports market to create a direct digital channel between our 700+ merchant partners & the North American youth sports market.
With FlipGive team funding app, teams earn cash when they shop with their favourite brands for groceries, gas, clothes, equipment, meals out, travel and more. Over $20M has been raised by groups, simply from their everyday spending.
FlipGive is a free team funding app that makes raising money a breeze. Teams earn cash back for buying the things they already need. Their teams earn money whenever they shop, dine out, or book hotels and flights through the platform. It requires zero time or effort on the family’s part, and instead it allows young athletes and their families to focus on the joy youth sports provides in lieu of fundraising to be able to afford to play.
“We have only scratched the surface of what is possible in the world of team-sport and club fundraising,” said Mark Bachman, FlipGive co-founder and CEO. “With this investment, we will be able to provide our service to a larger, more diverse group of members and give them access to the tools they need to raise funds quicker and easier than ever before.”
FlipGive has revolutionized the fundraising space by partnering with hundreds of national brands to provide cash back from purchases made through its platform. Some of these include Apple, Under Armour, Walmart, Home Depot, Nike, and Buffalo Wild Wings. Instead of relying on traditional bottle drives or the awkward candy bar and raffle ticket shakedown, over 35,000 teams and clubs have used FlipGive to raise $20M through everyday purchases at their favorite retailers and restaurants.
FlipGive’s Series A round is Framework’s first investment from a $150 million fund that will focus on supporting rapidly scaling tech companies in Canada and abroad.
“Framework is incredibly excited about working with Mark, Nicholas, and the rest of the FlipGive team to tackle the tremendous friction associated with fundraising,” said Peter Misek, Partner at Framework Venture Partners. “We deeply believe in FlipGive’s ability to service a market in dire need of intuitive, user-driven tools that can help families and other groups of people reduce the financial burden related to sporting and other organized activities.”
“We are very excited to see FlipGive enter this new era,” said Sam Ifergan, Founder and Managing Partner at iGan. “Having been invested in the company from the beginning, it is very fulfilling to see the vision become a reality. We know FlipGive will be an important enabler of youth sports as well as an incredible marketplace.”
“FJ Labs invests in high-friction markets that can be improved for both sides by a central platform,” said Fabrice Grinda, co-founding Partner at FJ Labs. “FlipGive, lead by stellar CEO Mark and team, is well on its way to transforming the overlooked market of fundraising for team sports. The proof is in the numbers– the growth is phenomenal and we’re thrilled to be a part of the journey!”