Sift raises $1.5 million to unlock your credit cards

Did you know that your credit cards can do incredible matters? Apart from drawing you into crippling financial debt even though forcing you to be portion of the large cycle of economic servitude, credit cards also give cash-back again on purchases, defense on merchandise you obtain, and refunds! That is what Sift needs to enable you unlock.

“We unlock thousands of bucks truly worth of hidden credit card advantages. Consider of credit card advantages like a iceberg – on the surface there are advantages that all people understands about like rewards/cash back again but beneath the surface there are all these fantastic advantages that people are unaware of and/or are hard to take benefit of,” explained Abhinav Dubey. “We fix the two the consciousness issue and also streamline the assert process.”

Sift, which not too long ago raised $1.5 from Liquid 2 ventures, early Mint and Credit Karma investors, Plug and Participate in ventures, Lodestar ventures, Band of Angels, and Sophia Collier. The income will go in direction of growing Sift’s attain with credit card users.

The business has 5,500 users with $four million in transaction quantity and they’ve previously process $two hundred,000 in refunds. They also enable unlock value defense, extended warranties, and theft/destruction/return defense. They want to enable educate people about credit cards and be certain that their cards are becoming use to their fullest possible.

“While at Nokia my cofounders and I worked on a challenge we nicknamed ‘project honeymoon’ about how to strengthen the post-purchase knowledge,” explained Dubey. “We realized that although this was a critical contact issue for the consumer it was entirely damaged. We then studied the market place to see in which to start off and concluded that credit cards have a ton of incredible post-purchase advantages that no one requires benefit of and built that our commencing issue!”

Whilst most of us feel we know what our credit cards characteristic, 85% of credit cards have hidden characteristics most people by no means use, an critical if startling statistic. Anything that can enable “sift” out people techniques is a welcome addition to our wallets.