OpenBucks raises USD4.8million for gift card payment network

Series A funding

Financial services startup OpenBucks has raised USD4.8million in Series A funding led by Yahoo! co-founder Jerry Yang. Also participating were Greycroft Partners, e.ventures, Clearstone Ventures, Morado Venture Partners, Novel TMT Ventures, Inspiration Ventures, CrunchFund, SV Angel, TiE Angels and former Yahoo! CEO, Terry Semel. OpenBucks enables people to use retailers’ gift cards to pay for unrelated services in the digital world such as online games. Currently the company supports gift cards from brands such as Subway, CVS Pharmacy and Burger King, and with the funding OpenBucks plans to target additional merchants.

 

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