Toronto-based sports team funding app FlipGive has secured $5 million in a Series A financing that will help FlipGive continue to accelerate how youth sports, member organizations, and clubs fundraise
The round was led by Canadian software venture capital firm Framework Venture Partners. With further participation from iGan Partners and FJ Labs, the investment will fund talent growth, the development of enhanced product features, and the addition of brand partners to enrich the value members receive from the platform. Funding will also support increased marketing and provide resources for member acquisition
Launched in 2016, FlipGive provides a digital platform that helps North American youth sports teams, member organizations and clubs raise funds through everyday shopping with favorite brands. The company will use the round’s proceeds for new hires, enhanced product features, additional brand partners, marketing and member acquisition.”
‘”We have only scratched the surface of what is possible in the world of team-sport and club fundraising,” said Mark Bachman, FlipGive co-founder and CEO. “With this investment, we will be able to provide our service to a larger, more diverse group of members and give them access to the tools they need to raise funds quicker and easier than ever before.”
FlipGive has revolutionized the fundraising space by partnering with hundreds of national brands to provide cash back from purchases made through its platform. Some of these include Apple, Under Armour, Walmart, Home Depot, Nike, and Buffalo Wild Wings. Instead of relying on traditional bottle drives or the awkward candy bar and raffle ticket shakedown, over 35,000 teams and clubs have used FlipGive to raise $20M through everyday purchases at their favorite retailers and restaurants.
“Framework is incredibly excited about working with Mark, Nicholas, and the rest of the FlipGive team to tackle the tremendous friction associated with fundraising,” said Peter Misek, partner at Framework Venture Partners. “We deeply believe in FlipGive’s ability to service a market in dire need of intuitive, user-driven tools that can help families and other groups of people reduce the financial burden related to sporting and other organized activities.”
