# Prepaid2cash Holdings

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/prepaid2cash-holdings

- Industry: Financial Services
- Headquarters: Birmingham, US
- Website: www.prepaid2cash.com
- Total disclosed funding: $5.1M
- Latest round: Series A (Jul 29, 2021)
- Investors on record: 3

## About

Prepaid2cash Holdings, Inc. is a financial technology company based in the US that specializes in converting prepaid and gift cards into cash through a user-friendly mobile application.Prepaid2cash Holdings, Inc. operates a platform that allows users to efficiently convert their prepaid cards into cash. The company has raised a total of USD 5.1 mn through its Series A funding round, which occurred on July 29, 2021, with Benson Capital Partners as the lead investor, alongside Redhawk Venture Group and Relevance Ventures. The company is headquartered in Birmingham, Alabama, and is led by CEO Peter Vogt, who has a history in the financial technology sector.Prepaid2Cash primarily offers a financial technology platform that facilitates the conversion of prepaid and gift cards into cash. The service allows users to scan their cards through a mobile application, processing transactions that enable users to receive cash within approximately 15 minutes. This innovative service addresses the issue of unused prepaid cards, providing a practical solution for consumers, especially younger generations like Gen Z, across various geographical markets in the United States.The revenue model of Prepaid2Cash is transaction-based, with users paying a processing fee when converting their prepaid cards into cash through the platform. The company functions as a direct-to-consumer service, enabling individuals to utilize its offerings without needing intermediary retailers or wholesalers. The platform's pricing reflects the convenience and speed of cash conversion, appealing to a diverse client base seeking financial flexibility, while collaborating with banking partners to ensure secure transaction processing.In July 2021, Prepaid2cash Holdings, Inc. raised USD 5.1 mn in Series A funding to accelerate client acquisition and enhance its financial technology and feature set. The company plans to leverage its resources in Birmingham, Alabama, for developing upcoming features. Future expansion strategies include targeting new geographic markets across the United States to broaden its service reach.

## Funding rounds

- Series A, Jul 29, 2021, $5.1M — Relevance Ventures, Redhawk Venture Group, Benson Capital Partners

## Investors

- Relevance Ventures (https://capitalatlas.ai/funds/relevance-ventures) — Series A
- Redhawk Venture Group (https://capitalatlas.ai/funds/redhawk-venture-group) — Series A
- Benson Capital Partners (https://capitalatlas.ai/funds/benson-capital-partners) — Series A