Prepaid2Cash Holdings, Inc. is a Birmingham, Alabama-based leader in the gift and prepaid card redemption space. Launched in 2016 and led by CEO Peter Vogt, P2C enables consumers and business clients to convert gift and prepaid cards (Visa, MasterCard, Amex, Discover) into cash. The company's technology and partnerships allow users to exchange cards and receive cash or Bitcoin directly to their bank account or crypto wallet within minutes. Prepaid2Cash closed a $5.1M Series A financing round. The company intends to use the funds to accelerate customer acquisition and to continue development of its financial technology and feature set. It also plans to hire engineering, product, and operational talent out of its Birmingham headquarters. Prepaid2Cash offers a mobile app that lets consumers scan network-branded (Visa, MasterCard, Amex, Discover) prepaid and gift cards and receive cash via direct deposit in as little as 24 hours or by check in a few business days. The company leverages advanced technologies and partnerships with banking and payment institutions to enable faster payouts than peer marketplaces that require selling to other users. Prepaid2Cash was founded by two financial-technology entrepreneurs in San Francisco and launched to the public in 2016. Since inception the platform has processed millions of dollars in transactions, has thousands of users, and is described as growing quickly. In connection with a recent investment, the company is relocating its worldwide headquarters from San Francisco to Birmingham, Alabama, and its leadership has cited the move as a way to scale, access new customers, and tap regional connections.

Total raised

$5M

Funding rounds

2

Latest round

Series A

Latest activity

Jul 2021