Home FinTech Nigerian merchant rewards startup ThankUCash secures fresh funding 

Nigerian merchant rewards startup ThankUCash secures fresh funding 

ThankUCash Founders
ThankUCash was founded in 2018, by Madonna Ononobi, Simeon Ononobi, Harshal Gandole and Suraj Supekar.

Nigeria based multi-merchant rewards startup ThankUcash has secured a funding from 500 Startups mentor Brandon Drew. He has joined the startup as an investor and advisor.

ThankUCash is looking forward to expand internationally. It had also taken part in the 26th edition of Silicon Valley 500 Startups accelerator earlier this year, earning access to funding, mentorship and training. Brandon Drew is one of the mentors of the accelerator.

Earlier, Google executive Craig Fenton (Strategy and Operations Lead for Google’s business in UK, Ireland and Southern Europe) also joined the ThankUCash boards, as the company is gearing up for local and international expansion.

About ThankUCash


ThankUCash was founded in 2018, by Madonna Ononobi, Simeon Ononobi, Harshal Gandole and Suraj Supekar. It helps retail businesses expand their customer base using rewards and data analytics. The ThankUCash platform allows merchant to offer cash backs to encourage loyalty and trust from customers. Customers can receive cash back, saving as much as 50% every time they spend money on something. The startup is currently operating out of three locations Lagos, San Francisco and Pune. It was also the only African startup that made it into the 26th batch of 500 startups accelerator 2020. ThankUCash’s merchants have increased their revenues by over 25% by tracking sales, monitoring their businesses, acquiring new customers and retaining the existing ones as well.

About the Investor

Brandon L. Drew has served as advisor and board member in many companies including Vidcaster, Signal Zero and Lotadata. He is also the co-founder and General partner at SaaS Growth Ventures, San Francisco based Venture Capital firm. He has more than 20 years of experience in SaaS B2B space. Drew has also delivered lectures at various universities and is currently a mentor on entrepreneurship at University of California and California Polytechnic State University.

“Brandon has an unquestionable depth of experience and knowledge not many people can boast of, which is pivotal to the current phase we are in. It is a pleasure to have him on board and we are sure to achieve great things together with him,” said ThankUCash chief executive officer (CEO) Simeon Ononobi.

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Komal writes about the startup ecosystem on VCBay. She is an Economics Hons. graduate from Miranda House, Delhi University, and is passionate about the world of entrepreneurship and finance.


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