Drop Technologies discloses US $17.6M funding round in 2021

CPE News

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CPE News (3.8.2022) – Drop Technologies raised over US $17.6 million in 2021 according to its SEC filing. Drop has yet to make any announcement on the funding round and exact size.

It also could be for an undisclosed acquisition by Drop with US $17.6 million equity share component.

In August 2019, Drop announced the closing of US $44 million Series B financing led by HOF Capital, with participation of returning investors New Enterprise Associates (NEA), Sierra Ventures, White Star Capital and Royal Bank of Canada.

Founded by Derrick Fung, Darren Fung, Cameron Dearsley, and Akhil Gupta, Toronto based Drop is a rewards company offering a personalized mobile rewards platform designed to help shoppers earn more on everyday purchases when they make purchases from over 400+ Drop merchant partners.

photo credit: Drop