CardCash.com, a new innovative secondary card exchange website has recently received funding from Guggenheim Partners.
Recently, CardCash.com has announced that they received funding in the amount of $6 million from Guggenheim Partners to continue elevating their growingly popular gift card exchange website.
CardCash.com has devised a platform that allows the trading and selling of gift cards. According to CardCash.com the annual amount spent on gift cards is just under $90 billion. To go along with that large number they also state that around 10% of them go unused. Their website allows for anyone with unwanted or unneeded gift cards to logon to CardCash.com, there they can buy, sell and trade them in exchange for money or a more desirable gift card.
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“With Guggenheim’s investment, we can expand our brand and service to consumers across America.” CEO and co-founder of CardCash.com, Elliot Bohm added on the investment by Guggenheim Partners.
Doug Atkin, head of Guggenheim’s venture and growth investing business had this to say on their investment: “CardCash fits perfectly into our strategy of investing in innovative financial exchanges.”
It is always refreshing to see new companies taking innovative and new approaches on Ecommerce. We expect to see more companies similar to CardCash.com paving the way for new innovations and uses in the online payment industry.