Round of Funding will Support “Goal Card,” Company’s First Public Product Launch
SEATTLE – September 20, 2011 – Bobber Interactive today announced the closing of a Series A funding round, led by PEAK6 Investments, L.P. (“PEAK6”), an award-winning financial services firm with innovative businesses in capital management, online retail brokerage, and consumer Internet. Additional participants in the round are Dove Capital Partners, a financial services venture fund focused on payments and alternative channels. PEAK6 and Dove Capital Partners join a host of notable angel investors and provide extensive industry expertise and strategic value to support Bobber’s development and growth. The round, worth $1.4 million, will be used to support the company’s first product launch as well as facilitate corporate growth and expansion for the Seattle-based startup.
Bobber aims to provide young adults with an innovative FDIC-insured payment and savings platform combining social media and video game psychology to help users set and achieve realistic financial goals. Bobber is launching the beta of their first public offering, a Facebook app tied to a payment card called “Goal Card. “
“With young adults representing approximately $200 billion of annual discretionary income, we see a great market opportunity for financial services that are tailored to their specific needs and habits,” said Eric Eastman, CEO of Bobber Interactive. “This round of funding will help us to launch our first Facebook-based offering and payment card and begin helping users set and reach their savings goals.”
With GoalCard, users can set short and medium-term savings goals – saving for an iPad, a pair of designer boots, or a new TV, for example – and manage their day-to-day spending in order to reach them. FDIC-insured through Bobber’s partner financial institution, users can connect multiple income sources to their Bobber account and manage balances and transactions through Facebook. Through their activity in the app, users earn up to 5% cash back when they reach their goal
Having debuted and winning “Best of Show” honors last year at the Finovate Conference in San Francisco, Bobber will also present at Finovate 2011 in New York City this week. Attendees can learn more on Bobber’s plans and the Goal Card offering during their presentation on September 21.
For more information, or to request a beta invitation, please visit www.bobberinteractive.com.
About Bobber Interactive
Bobber Interactive Corp. provides young adults an innovative cash management tool that drives lead generation for financial institutions. Users simplify the way cash flows through their daily lives and benefit from a tailored loyalty and rewards program grounded in their most meaningful personal goals, all through the involvement of friends and family. Bobber’s management team comes from financial services, game design and technology development with a strong track record of success.
Andrew Karl, TriplePoint for Bobber Interactive
Joe Ziemer, Finovate Press Contact, TriplePoint for Bobber Interactive