London Fintech Hyperjar Raises $24M for Expansion and Recruitment

London-based fintech firm Hyperjar has successfully raised $24 million in a Series A funding round, with plans to expand its operations. Known for its digital wallet and personalized rewards platform, Hyperjar collaborates with leading brands to offer exclusive discounts and savings to its users.

The capital infusion will primarily be used for recruitment, strengthening the company's business development teams and B2B sales units, both in the UK and internationally. Susquehanna Private Equity Investments and the Healthcare of Ontario Pension Plan provide the finance.

Hyperjar is well-known for its digital wallet, which helps customers manage their funds from deposits to expenditures while digitizing, recording, and rewarding intent. Hyperjar was co-founded in 2016 and launched in 2020 by Mat Megens and Paul Rolles. The company's partnerships with major retailers like eBay, Shell, and Skyscanner enable users to access special discounts that convert committed funds into an annual growth rate, making spending power grow faster than in traditional savings accounts.

Hyperjar's innovative approach also includes a youth-focused offer aimed at enhancing financial literacy among younger generations. CEO Rob Rooney expressed confidence in the company's future and its potential to transform spending, especially in a tough fundraising environment. The company plans to expand internationally into North America, Europe, and other growth markets with the goal of providing exceptional spending technology to organizations and customers worldwide.