Virtual gift card provider CashStar, which is based in Portland, Maine, announced that is has raised $5 million in additional funding from new and current investors.
CashStar today [7/11] announced that it has raised $5 million in funding to help drive continued growth, mobile innovation and adoption in the digital gifting and incentives market. The round includes Intel Capital, along with existing investors Passport Ventures, FTV Capital and Steven Boal, Co-founder and Chairman of CashStar, and president and CEO of Coupons.com, Inc.
As virtual gift cards grow in popularities, the providers of these cards, including Giftango, Transaction Wireless, and Dimpledough will find themselves in an increasingly competitive market. Mobile wallets and new forms of payments will provide opportunities and threats.
Click here to read more from CashStar’s press release.