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Nigerian rewards startup ThankUCash raises $5.3M seed round for expansion

Nigerian multi-merchant rewards platform ThankUCash has raised US$5.3 million in seed funding as it plans expansion into new markets and further product launches. Co-founded in 2018 by Simeon Ononobi, Suraj Supekar, Madonna Ononobi and Harshal Gandole, ThankUCash offers cashback on purchases and deals from thousands of merchants, which in turn helps merchants retain customer loyalty, increase revenues, and grow. The startup has recorded over 600,000 users and onboarded over 1,000 stores on its platform, whilst processing more than US$80 million in transaction volume.