# OpenBucks

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/openbucks

- Industry: Financial Services
- Headquarters: Sunnyvale, US
- Website: www.openbucks.com
- Total disclosed funding: $4.8M
- Latest round: Series A (Jul 17, 2012)
- Investors on record: 10

## About

OpenBucks Corp. offers a payment platform that enables online transactions for consumers preferring prepaid options, primarily serving the gaming industry with its Obucks card for seamless purchases without traditional banking.OpenBucks Corp. was founded in 2010 and is headquartered in Sunnyvale, US. The company provides a payment solution targeting the gaming sector, allowing users to make purchases using prepaid cards. In July 2020, Paysafe Group Limited acquired OpenBucks, although specifics of the financial terms were not disclosed. The founder's history is not publicly available, and there are no mentions of prior companies founded by them. Since inception, OpenBucks has completed four deals, with the latest funding round being Venture Debt, raising USD 0.50 mn, contributing to a total of USD 4.80 mn raised since establishment.OpenBucks offers a payment platform designed for consumers who prefer prepaid options over traditional banking methods. The Obucks card is accepted across a wide range of gaming merchants, facilitating a seamless checkout experience for users who do not possess bank accounts or credit cards. This service is tailored primarily for the gaming industry, enabling resellers to effectively monetize prepaid card consumers. OpenBucks supports two integration methods: the PaysafeCard API and the Skrill Quick Checkout API, which allow merchants to efficiently process transactions and collect funding information. The company primarily operates in the United States, providing accessible alternative payment options for online transactions.OpenBucks employs a transaction-based revenue model, generating income by processing payments made via its Obucks card and associated APIs. Merchants partnering with OpenBucks typically integrate the service into their existing payment processes, often resulting in an increase in sales by 2-5% when incorporating prepaid payment methods. While specific pricing details are not disclosed, fees are likely applied on a per-transaction basis or through subscription arrangements for continued service access. The company's business model focuses on a direct-to-consumer approach, enabling online merchants to effectively reach prepaid card users.OpenBucks is strategically positioned for future growth following its acquisition by Paysafe Group in July 2020. The company plans to enhance its product offerings and expand its market presence, specifically targeting additional segments within the gaming industry and exploring new geographic markets. Recent funding will support these initiatives, though specifics regarding new product launches and targeted regions have not been disclosed.

## Funding rounds

- Series A, Jul 17, 2012, $4.8M — Clearstone Venture Partners, Headline, Greycroft, Yahoo Inc., SV Angel, Morado Ventures, Novel TMT Ventures, Tuesday Capital, TiE Angels, Inspiration Ventures
- Seed, Apr 13, 2011 — SV Angel

## Investors

- SV Angel (https://capitalatlas.ai/funds/sv-angel) — Seed, Series A
- Clearstone Venture Partners (https://capitalatlas.ai/funds/clearstone-venture-partners) — Series A
- Headline (https://capitalatlas.ai/funds/headline) — Series A
- Greycroft (https://capitalatlas.ai/funds/greycroft) — Series A
- Yahoo Inc. — Series A
- Morado Ventures (https://capitalatlas.ai/funds/morado-ventures) — Series A
- Novel TMT Ventures (https://capitalatlas.ai/funds/novel-tmt-ventures) — Series A
- Tuesday Capital (https://capitalatlas.ai/funds/tuesday-capital) — Series A
- TiE Angels (https://capitalatlas.ai/funds/tie-angels) — Series A
- Inspiration Ventures (https://capitalatlas.ai/funds/inspiration-ventures) — Series A