CASHMALLOW
Latest round
- Series A
Last raised
- Feb 2022
Total raised
- Undisclosed
Investors
- 2
About CASHMALLOW
Cashmallow is a mobile currency exchange application enabling users to conduct real-time transactions and fee-free ATM withdrawals.Cashmallow, founded in 2016 by Hyeongun Yun, operates from Seoul, South Korea.Cashmallow specializes in providing a currency exchange application that allows users to conduct real-time currency exchanges directly from their mobile devices. The app offers seamless withdrawal capabilities at overseas ATMs without any associated fees. Users can complete withdrawals through methods such as entering a one-time password (OTP) or scanning a QR code, thus enhancing the convenience of accessing foreign currency while traveling. The core service is designed to eliminate the need for traditional currency exchange methods, making it particularly beneficial for travelers who require immediate access to local currency.The revenue model for Cashmallow revolves around transaction fees associated with currency exchanges and ATM withdrawals. Each time a user completes a currency exchange or withdrawal, a fee structure is applied, ensuring that the company generates income from these transactions. This model primarily targets consumers who utilize the app for travel, allowing for direct-to-consumer interactions without intermediary involvement. While specific pricing plans have not been disclosed, Cashmallow's flagship product focuses on providing a zero-fee withdrawal service at overseas ATMs, positioning the company favorably in a competitive market. The investment will help Cashmallow recruit IT teams to enhance the security of its mobile solutions. The company aims to introduce new features and expand its market coverage, particularly targeting additional regions in Asia and exploring opportunities in Europe by the end of 2023.
Who invested in CASHMALLOW
2 investors across 1 round
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Funding rounds
Series A
Feb 14, 2022
Amount
Undisclosed
Investors
Questions about CASHMALLOW
Who invested in CASHMALLOW?
CASHMALLOW has 2 investors on record across 1 venture round. Sign up free to see every VC on the cap table and the rounds they joined.
How much funding has CASHMALLOW raised?
CASHMALLOW has raised 1 venture round. Sign up free to see how much each round raised and the total.
When did CASHMALLOW last raise money?
CASHMALLOW's most recent round on record is a Series A, in Feb 2022.
What does CASHMALLOW do?
Cashmallow is a mobile currency exchange application enabling users to conduct real-time transactions and fee-free ATM withdrawals.
Where is CASHMALLOW headquartered?
CASHMALLOW is headquartered in Seoul, South Korea.
Which VCs invest in companies like CASHMALLOW?
Among active investors with capital left to deploy, ICBC Capital Management, China Life Capital, GoHigh Capital and ABQH Shenzhen Investment Fund Management back financial services companies at CASHMALLOW's stage. Their profiles are linked below.
VCs backing financial services startups at Series A
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