Rewards app Drop seeded with $5.5 mln in Sierra-led round
Toronto-based millennial-focused rewards program Drop has secured $5.5 million in a seed-stage financing. The round was led by U.S. venture capital firm Sierra Ventures with participation from White Star Capital, ff Venture Capital, Power Corp's Portag3 Ventures and HOF Capital. Founded in 2015 by CEO Derrick Fung, Drop provides a free mobile rewards app that allows millennials to earn rewards while shopping. It at the same time helps brands gain knowledge about new consumers. Drop plans to use the funds raised to launch its technology platform in the United States.
10 October 2017•3 mins read
