FreeMonee enables stores and restaurants to attract customers on demand by delivering FreeMonee Gifts—money sent directly to cardholders of financial institutions. Gifts are customized to match consumer interests and allow recipients to purchase what they want at designated merchants. The service launched in November 2011 and is delivered through partnerships with four top banks and card issuers; the company is in talks with several others. FreeMonee was founded in 2009 by Gadi Maier, who serves as CEO and president, and is based in San Mateo, CA. The company plans to use new funding to expand to more retailers and to broaden programs with U.S. banks and credit card issuers. It recently raised capital to support those expansion efforts. FreeMonee operates a national cash-gift network that lets merchants give “gifts” directly to individual credit and debit cardholders via participating financial institutions. The company has signed agreements with two top card issuers and is working with several others to expand participation. FreeMonee plans its first program launch in summer 2011. Management is led by CEO and President Gadi Maier and includes a sizable executive team across development, marketing, strategy and network services. The company raised $11M in initial funding to support its rollout and operations. Peter Ueberroth has joined the board alongside former Levi Strauss CEO Phil Marineau.

Total raised

$45M

Funding rounds

2

Latest round

Series B

Latest activity

Aug 2012