Claim provides consumers with weekly, personalized cash-back rewards to encourage trying local restaurants and businesses. The platform securely links to a user's credit card to automatically reimburse purchases made at selected merchant partners. This model functions as performance-based marketing, connecting brands with new customers while offering direct value to diners.
Funding
$20M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Traditional advertising methods often fail to efficiently connect brands with potential customers, relying on broad digital campaigns that may not reach the intended audience. This can lead to wasted ad spend and a disconnect between brands and consumers seeking new experiences.
Solution
Claim is a mobile application that directly connects users with local brands by offering cash-back rewards for trying new places. Each week, users receive a "Drop" of curated brand offers and select one to redeem. By linking their credit card through Plaid, users automatically receive a Venmo payment after making a purchase at the chosen brand. This system allows brands to directly incentivize new customers while providing users with personalized rewards and opportunities to discover local businesses. Claim facilitates a direct value exchange, ensuring that advertising spend translates into tangible customer acquisition and engagement.
Target Audience
Claim primarily targets consumers, especially college students and young professionals, who are interested in discovering new local businesses and experiences while earning cash-back rewards. The platform also serves local restaurants, studios, and shops looking to acquire new, loyal customers.
Features
- Weekly "Drops" of personalized brand offers based on user preferences and location.
- Secure credit card linking via Plaid for automatic purchase validation and reward disbursement.
- Automatic cash-back via Venmo after completing a purchase at a participating brand.
- "Drop Buddies" feature to coordinate reward redemptions with friends.
- Reward trading functionality to swap offers with other users.
- Algorithm-based brand matching to ensure relevant and appealing offers.
- Aggregated, anonymized data provided to brands to optimize targeting and customer acquisition strategies.