CashStar, a prepaid commerce provider, announced the closing of $15 million in growth capital. FTV Capital led the Series D round, including Mosaik Partners and existing investors Passport Capital, Intel Capital, and North Hill Ventures among others. This financing brings the total capital raised by CashStar to $50 million and will enable the company to continue investing in product innovation, sales, and client success.
“CashStar is reinventing the prepaid industry for retailers with innovative digital and mobile solutions that drive business growth, and we are excited to partner in their continued success,” remarked Miles Kilburn, Mosaik’s founder and newly appointed CashStar board observer.
CashStar has gone through several important milestones in recent months. Most notably, the company announced the hiring of Martin Hood as vice president of channel partnerships and Matt Kerper as vice president of strategic business development.
“We are very much looking forward to working with Miles and the Mosaik team. His expertise in payments and experience as an operator will be invaluable moving forward,” commented Ben Kaplan, CashStar president and CEO.
“CashStar has incredible momentum and this growth round enables us to capitalize on a huge market opportunity by investing in innovation and client success.”
Ellie Dautner, a finance postgraduate from the University of San Diego, is an expert journalist in fintech and mobile payment technology. She specializes in writing about fintech, mobile payments, startup funding, and acquisitions.