StoreCash offers a cash back app that enables users to earn up to 15% cash back on everyday purchases by utilizing a plug-and-play API for seamless integration with retail partners. This technology addresses the need for instant cash back rewards, allowing customers to save money on their shopping without the hassle of redemption processes.
Funding
$7.4M 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.
+2Founders
Product
Problem
Many teens and young adults lack access to traditional banking services and financial literacy resources, hindering their ability to manage money effectively and build a strong financial foundation. This gap disproportionately affects lower-income communities, limiting opportunities for wealth creation and economic advancement.
Solution
StoreCash provides a mobile banking app designed to empower teens and young adults with financial literacy and easy access to digital banking services. By linking their account with a parent or guardian, users gain access to a virtual debit card for online and in-store purchases, along with a physical MasterCard. The app facilitates instant money transfers, direct deposits, and weekly allowance management, all without fees. Users also earn up to 15% cashback at a wide range of popular retailers, incentivizing responsible spending and saving habits.
Target Audience
The primary target audience is unbanked and underbanked American teens and young adults, particularly those in low-income communities, who need access to financial tools and education to build a better financial future.
Features
- Virtual debit card for immediate use with Apple Pay and Google Pay
- Physical MasterCard debit card shipped within one week
- Instant money transfers and account top-ups via direct deposit or weekly allowance
- Cashback rewards of up to 15% at over 350 major retailers
- FDIC insurance up to $250,000
- Account activation through linking with a parent or guardian
- Encryption, privacy protection, and fraud monitoring for secure transactions