Kudos Technologies, a Los Angeles, CA-based provider of a smart wallet for shopping online, raised $7M in Seed funding.
The round was led by Patron, with participation from QED Investors, SciFi VC, SV Angel, Precursor Ventures, Newtype Ventures, and Chingona Ventures, and over forty angel investors.
The company intends to use the funds to further develop its smart wallet, launch additional cashback boosts across 12,000 merchant partners, and a number of other features yet to be announced.
Led by CEO Tikue Anazodo, Kudos is a smart wallet that works everywhere users shop online and helps them save time and earn money whenever they shop. Since its beta launch a few months ago, the wallet has seen organic growth with downloads increasing an average of 36% month over month and $4.5 million in annualized checkout GMV. Kudos also now supports checkout at over one million websites.
