Bitmo operates a mobile gifting platform that eliminates physical gift cards by enabling users to purchase, send, split, and exchange digital gift-card value at over 130 nationwide retailers. The product aims to create a social gifting experience and gives retailers direct engagement and data-driven customer connections. Since its public launch 18 months ago, Bitmo reports strong traction: growing 28% month-over-month, on track to surpass one million users before the end of 2019, and over 100,000 gifts redeemed with recipients spending on average 3.5x the gift amount. The company says over 10% of gift recipients discover new stores via the platform and half of those become repeat customers. Bitmo plans to use the new capital to accelerate consumer growth, expand retailer-focused enterprise products, and build out marketing, sales, product, finance, and engineering teams, as well as expand its Carlsbad, CA office. The company was founded in 2017 by CEO J. Michael Smallwood and is led by a team of industry executives, startup veterans, and mobile payment experts.

Total raised

$3M

Funding rounds

1

Latest round

Seed

Latest activity

Mar 2019