Austin based cashback app Dosh has raised a $44m Series A at a $240m post-money valuation, led by PayPal and Goodwater Capital.
No valuation is being disclosed but we understand from a source familiar with the deal that it is $240 million. The funding brings the total raised by Dosh, based out of Austin, to $56 million. Other investors in the company have included Next Coast Ventures, Chetrit Ventures and Extol Capital. There are dozens of services on the market today that let users get cash back when they make purchases. They include genre-specific apps like Mogl for restaurants, shopping portal Spring, services from Yelp and Groupon, numerous credit cards, and even PayPal itself. CEO and founder Ryan Wuerch says that Dosh is different from the rest because of its implementation of AI and algorithms that respond to your shopping behavior to steer your activity.