Benefit Mobile

crowdfunding platformsdigital cardspayments

STATUS: Acquired/Merged
FOUNDING YEAR: 2012
LOCATION: United States
Last Update: 23/02/2021

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About

Benefit is a mobile platform that enables charitable organizations to raise funds fast with minimal effort and enables users to support the causes they care most about with every purchase, without spending an extra penny. Donations are made by using the Benefit app for everyday shopping in-store or online at over 170 of the nations top retailers. Every purchase results in a donation to the non-profit the user chooses to support. Benefit users don't spend a penny more for the shopping they already do and support their favorite cause with every transaction. Payment is fast, easy, and, most importantly, completely secure. Next time you are shopping online or in-store, use the Benefit app to check out and #paywithpurpose!

MEDICI Analysis

Benefit Mobile offers a mobile fundraising platform for schools and non-profit organizations. Benefit is a pre-paid mobile wallet app that allows users to buy e-gift cards through their retailer partners and donate some percentage of the transaction to support causes for schools, non-profits, or user personal choice like a mortgage or healthcare premium.

Focus

PRODUCTS & SERVICES

Mobile based fundraising tools for schools and non-profits. Benefit Mobile -It is a prepaid mobile wallet that allows users to donate discounted money from the gift card purchases to support social causes. The app supports credit card payment method that allows users to earn rewards or miles as they give back. The platform makes it easier for donors to support social causes on their mobile app.

REVENUE MODEL

The company charges small percentage fee of each transaction.

MAIN CLIENTS

Schools

Non-profit organizations

Fundraisers

EXISTING PARTNERSHIPS

The company has partnered with 150+ retailers including Amazon

Walmart

adidas

Aeropostale

American Airlines

Bass Pro Shop

Cabela

etc. Benefit has partnered with Conpoto

a cloud-based currency software to bring more small businesses on their platform,

COMMENT

Benefit provides reporting services that allow retailers to track their real-time spendings and redemption, also helps them to set the discount rate based on their business sales.

company provided insights

Traction

TRACTION COMMENT:

The company is planning to expand their services to small business customers through the strategic partnerships.

People

FOUNDERS

Shane O'Donnell

Derik Lolli

BOARD MEMBERS AND ADVISORS

Thomas Kneubuehl

NUMBER OF EMPLOYEES

11-50

INVESTORS:

Start Garden

Wakestream Ventures

KEY EMPLOYEES:

Derik Lolli(CEO)

Momentum

FUNDED

NO

NUMBER OF FUNDING ROUNDS

3

TOTAL FUNDING

$2.63 M

DATE OF LAST FUNDING

Jun 2017

IPO STATUS

Private

SEED & PRIOR FUNDING

$1.13 M

SEED CLOSED ON

Apr 2015

LISTED

NO

COMMENT

Venture funding:$.93 M(Jun 2015).

company provided insights
Acquisitions

M&A

ACQUIRED BY

National Gift Card Corporation

ANNOUNCED DATE

Feb 2019

PRICE

---

company provided insights
Web Traffic

Web Traffic

MONTHLY VISITS

930

AVERAGE VISITS (6 MONTHS)

2,281.44

MONTHLY VISITS GROWTH

-38.2%

VISIT DURATION

19

VISIT DURATION GROWTH

-71.88%

PAGE VIEWS VISIT

2.86

PAGE VIEWS VISIT GROWTH

-1.98%

BOUNCE RATE

47.04%

BOUNCE RATE GROWTH

-3.43%

GLOBAL TRAFFIC RANK

5,804,286

MONTHLY RANK CHANGE

-544,093

MONTHLY RANK GROWTH

-8.57%

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