HyperJar Raises $24m in Series A Funding

Published 10 months ago

London fintech firm, HyperJar, has secured a $24m Series A funding led by Susquehanna Private Equity Investments. The company offers digital wallets to more than half a million customers in the UK, focusing on ‘spending money,’ which it identifies as the world’s most significant asset class.

Revolutionizing Money Management

HyperJar’s online wallet offers users an innovative approach to manage their spending digitally. The tool allows for the partitioning, sharing, and control of money alongside merchant rewards. By using its series of ‘jam jars,’ users can set money aside for specific purposes, such as saving for a holiday, creating an emergency fund, or paying for insurance.

The app caters to individuals, families, and groups, with over 100,000 child cardholders. HyperJar CEO Rob Rooney comments, “Spending is the world’s biggest asset class, yet it’s largely unserved. We’ve created the world’s best tech for this unmet need.”

HyperLayer: HyperJar’s B2B Venture

Beyond its consumer product, HyperJar has launched a B2B venture, HyperLayer. This platform offers global enterprise customers access to the company’s spending, transactions, and reward capabilities amongst other features, enabling them to compete with market challengers.

Rob Rooney views this as a “massive greenfield opportunity” for organisations to offer their customers superior spending tech via HyperLayer. The recent $24m funding boost is expected to accelerate both B2B and B2C product development and facilitate HyperJar’s expansion into North America, Europe, and other growth markets.