StormX Raises $9M in Funding Round for Rewards Debit Card, US Growth

StormX Raises $9M in Funding Round for Rewards Debit Card, US Growth

Crypto cashback app StormX has secured $9 million in a funding round led by Optimista Capital to support its debit card plans and expand across the U.S. later this year.

  • The funding will also be used to make the app interface more user friendly when onboarding the debit card functionality, the firm said.
  • StormX said the debit card will launch in the U.S later this year, followed by the rest of the world. The card will offer users in-store rewards in 15,000 locations in partnership with retail and food and beverage firms.
  • In June, the company announced the Portland Trail Blazers will feature StormX advertising patches on their jerseys through a sponsorship deal with Oregon’s National Basketball Association team.
  • The $9 million funding will also be used to make new hires and to increase athlete and e-sport marketing, the firm said.
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