The Mitgo Group led a fresh fundraising round of $1.2 million for the cashback service CheckRewards.
CheckRewards stated in a press release that the money raised will be utilized to offer extensive networking opportunities and localized knowledge.
CheckRewards, founded by Artem Ostapenko, offers users access to promotions, cashback rewards for regular purchases and receipt scans, and spending tracking to assist with money management.
The company intends to collaborate with fifty leading FMCG, retail, and food brands, including Noon, Amazon, Samsung, Dyson, Starbucks, and H&M, among other industry heavyweights.
Receipt recognition technology is already being used by CheckRewards’ Android and iOS apps, which are currently available in the UAE. In the upcoming years, the company hopes to close deals with investors and make its debut in the Indian market.
The funding is also a component of Mitgo’s continuous global initiative to allocate $100 million by 2025 to creative projects. Recently, this plan has invested $500,000 in the productivity app Manganum and the meditation app Practico.
