Observed Signal · Jul 8, 2024 · Earnings Report · Source: Tech.eu · Impact: 2/5 · Sentiment: Negative
Super Payments startup reports £7.5M losses in 2023
Super Payments, a UK fintech startup founded by Samir Desai, reported losses of £7.5M in 2023, bringing total losses to £13.1M. The company, which offers cashback on purchases, has £14.5M in cash. It has raised £22.5M from investors including Accel, LocalGlobe, and Union Square Ventures. Over 200,000 UK shoppers use the app.
Financial results of a fintech/cashback startup; not a major industry shift but relevant to performance marketing ecosystem.
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Key Takeaways & Evidence Grounding
- Super Payments reported losses of £7.5M in 2023
- Total losses now stand at £13.1M
- Founded by Samir Desai, co-founder of Funding Circle
- Raised £22.5M from investors including Accel, LocalGlobe, and Union Square Ventures
- Has £14.5M in cash at bank
Connected Companies & Entities
2 Entities mapped“Super Payments raised £22.5m with backers including US VC firms ACEL, one of the early backers of Facebook...”
“Local Globe and Union Square Ventures, two other big names in the venture capital arena, have also backed the startup....”
Ontology Mapping & Concepts
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