StormX Raises $9M in Funding Round for Rewards Debit Card, US Growth
27 Jul, 2021•1 min read•Other
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.