HyperJar Announces Series A Raise of USD $24M
- Fundraising News
- 15.09.2023 10:10 am
HyperJar, the London-based Fintech, today announced a USD$24M Series A raise which is led by Susquehanna Private Equity Investments, LLLP, and includes the Healthcare of Ontario Pension Plan “(HOOPP)”.
HyperJar has identified ‘spending money’ as the world’s most important asset class and an unserved global market opportunity.
HyperJar’s award-winning B2C digital wallet has over half a million customers in the UK. The wallet helps people manage their spending intentionally using world-first tools. These allow for partitioning, sharing and exceptional control of money, as well as access to unique merchant rewards. HyperJar gives merchants a targeted and contextually relevant channel to drive desired consumer outcomes effectively and accurately through its rewards engine.
HyperLayer is the company’s B2B venture. It gives global enterprise customers access to the underlying HyperJar tech for spending, transactions, rewards capabilities and more.
HyperLayer offers banks revolutionary consumer and social network functionality to compete with digital-first challengers, helping deliver new revenue streams and satisfy Consumer Duty obligations. It also significantly enhances the customer propositions of other enterprise clients, including asset managers, pension funds, merchants, and any organisation whose clients are also spenders.
Rob Rooney, HyperJar’s CEO, says: “In a very tough fundraising environment, this investment represents terrific confidence in what we’ve built so far and in HyperJar’s future as a global business.
“Spending is the world’s biggest asset class, yet it’s largely unserved. Making spending money go further is the fastest way for most people to improve their financial position, but this is not what banks, credit platforms, payment platforms or asset and wealth managers are set up to do. We’ve created the world’s best tech for this unmet need.
“There’s a massive greenfield opportunity for organisations everywhere to offer their customers exceptional spending tech via HyperLayer, and this $24mm raise gives us the fuel to accelerate both B2B and B2C product development and to expand internationally into North America, Europe, and other growth markets.”
HyperJar is among the most awarded Fintechs in the UK. It currently holds Banking Tech of the Year, Best Future Payments Initiative and Best Use of Mobile titles from leading industry awards in 2023. The HyperJar app is currently the top-rated digital account across the major UK review and app store sites.
Perella Weinberg UK acted as an advisor to HyperJar during this capital raise period.