London-based fintech firm HyperJar has emerged victorious in its latest funding round, netting an impressive $24 million. The investment drive, spearheaded by Susquehanna Private Equity Investments, LLLP, and joined by the Healthcare of Ontario Pension Plan (HOOPP), is set to accelerate the company's expansion ambitions.
HyperJar has ambitious plans on the horizon, with the freshly acquired capital poised to fuel a substantial recruitment drive. The company intends to strengthen its business development and B2B sales teams, not only in the UK but also on a global scale.
Rob Rooney, the CEO of HyperJar, expressed his optimism in a challenging fundraising landscape. He highlighted the substantial potential for organizations worldwide to provide exceptional spending technology via HyperLayer. The $24 million raise serves as a resounding vote of confidence in HyperJar's existing accomplishments and its future as a global business.
Founded in 2016 and officially launched in 2020 by Mat Megens and Paul Rolles, HyperJar has reimagined spending money as a pivotal global market opportunity. With over half a million UK customers, their B2C digital wallet offers innovative tools to help people manage their spending intentionally.
HyperJar's engaging app, complemented by a debit card, empowers individuals to "Spend Life Well." The concept revolves around managing money in digital "jam jars," supported by groundbreaking technology. Users gain access to a variety of rewards from leading brands, coupled with features for partitioning, planning, sharing, and controlling their finances.
HyperJar also serves as a targeted channel for merchants to effectively drive desired consumer outcomes through its rewards engine. The company's Mastercard debit card facilitates expense management and fee-free foreign exchange transactions, making it an ideal travel companion.
HyperLayer, the company's B2B venture, extends the power of HyperJar's technology to global enterprise clients. It equips banks with revolutionary consumer and social network functionality, empowering them to compete with digital-first challengers, generate new revenue streams, and fulfill Consumer Duty obligations.
Moreover, HyperLayer enhances the customer propositions of various enterprise clients, including asset managers, pension funds, merchants, and organizations catering to spenders within their client base.