FlipGive, the pioneering cashback rewards and fundraising solution for youth sports teams, has announced raising C$5 million (about $3.7 million) in a recent financing round.
The fresh capital is poised to drive the expansion of FlipGive’s direct-to-consumer app across North America while also supporting the growth of its innovative white-label embedded cashback rewards shopping platform, according to the company’s announcement.
One of the standout features of FlipGive’s offerings is its white-label embedded cashback rewards shopping platform, known as FlipGive Rewards. This platform introduces a novel revenue stream for companies operating in the sportstech, schooltech, and causetech sectors.
By leveraging FlipGive’s proven model, this platform transforms routine shopping into a reliable source of recurring donations through cashback rewards.
The financing round was jointly led by Thrive Venture Fund at BDC Capital and Framework Venture Partners, two prominent players in the investment landscape.
This injection of funds “not only signifies confidence in FlipGive’s business model but also points to the growing interest in leveraging technology to support charitable causes”.
FlipGive’s mission centers around simplifying fundraising efforts for youth sports teams. With a network of over 800 brand partners, FlipGive enables a portion of every purchase made through its platform to be directed back to the respective sports team as a cashback reward.
By modernizing fundraising in this way, FlipGive said it effectively reduces costs associated with youth sports, making them more accessible and affordable for families.
Certified as a Beneficial Corporation (B-Corp), FlipGive is deeply committed to enhancing accessibility in youth sports.
To date, the platform has facilitated over $50 million in contributions by transforming everyday shopping into effortless fundraising for sports families across North America.
CEO of FlipGive, Amy Halpenny, emphasized the financial challenges families face in supporting their children’s sports activities. She said that youth sports have never been more expensive and parents struggle to fund their kids’ sports and activities.
“FlipGive offers a solution to offset the rising cost of play; a fast, free, and easy way to fund a youth sports season by earning cashback from everyday shopping.”
One of the recent highlights from FlipGive’s expansion efforts is the launch of the FlipGive Rewards platform in August. This platform enables companies in the sportstech, schooltech, and causetech sectors to seamlessly integrate a white-label fundraising-via-cash-back model into their own offerings.
Michelle Scarborough, Managing Partner at Thrive Venture Fund at BDC Capital, expressed enthusiasm for FlipGive’s innovative approach, stating, “FlipGive has transformed how sports teams fundraise and has demonstrated positive impact on thousands of families in North America — all while making it easier for everybody to give back.”
This funding round aligns with the launch of FlipGive’s first white-label partner for their Rewards platform, TeamLinkt. TeamLinkt, a rapidly growing sports management and team app, will now empower its 1.5 million users to reduce the costs of playing through cashback rewards from everyday shopping.
