Wallaby Financial Inc receives a $1.1 million investment
Digital wallet company Wallaby Financial has received a $1.1 million round of funding from multiple investors.
The primary investors were Founders Fund Angel and WI Harper Group (www.wiharper.com), with participation from SLP Ventures, Lion Wells Capital, and additional Los Angeles-based angel investors including former Green Dot and financial services executives.
Wallaby earlier this year received additional backing from MuckerLab, a Santa Monica-based accelerator program focused on Internet software, services and media entrepreneurs in Southern California.
Wallaby Financial, based in Pasadena, is the developer of a cloud-based digital wallet called Wallaby Card. The company said the product helps the average consumer who holds multiple credit cards optimize his credit card rewards and benefits automatically. The Wallaby Card reviews each customer's current credit cards, and directs spending on the Wallaby Card to the most advantageous card based upon the type of transaction, limited time offers, and other key factors in real time.
"I'd like to thank our investors for placing their confidence in our innovative service which is simplifying a typically painful process," Wallaby co-founder and Chief Executive Matthew Goldman said in a statement. "With so many cards available for consumers, it can be a challenge for them to use the right one to maximize their rewards. Our intelligent system is able to select the correct card so the user collects the rewards that matter most to them without any hassle at the point of sale. This funding allows us to further expand and refine our program to the benefit of consumers, merchants and banks."
"Wallaby has attracted considerable interest in a short amount of time, and we are excited to work with the company on their international and mobile expansion plans,” said Edward Liu, head of technology, media and telecom at WI Harper Group.
This version submitted by howmania