Maxrewards

MaxRewards, Inc. operates as a financial technology company based in Atlanta, Georgia, providing a platform for consumers to manage and optimize their credit card rewards and benefits. Founded in 2016 by CEO Anik Khan and CTO David Gao, the company aims to simplify the complexities of credit card loyalty programs. Khan's journey into entrepreneurship began at age 14, creating websites, and later led him to management consulting before co-founding MaxRewards. Gao gained experience at VMware prior to his role at the company.

The company's core offering is a mobile application that aggregates a user's credit card accounts, offering a consolidated view of balances, rewards, bills, and credit scores. The app serves individuals who hold multiple credit cards and want to ensure they are getting the most value from their spending. Its primary function is to recommend the best card for a particular purchase based on the rewards offered for different spending categories, such as dining or travel. A key feature is the automation of activating card-linked offers and quarterly bonus categories, a task that can be tedious for consumers to manage manually across various card issuers like Chase, American Express, and Citi. The platform also helps users track their progress toward sign-up bonuses and monitors various card benefits like travel credits and lounge access.

MaxRewards operates on a freemium business model. The base version of the app, which includes card aggregation and spending recommendations, is free to use. Revenue is primarily generated through its premium subscription, MaxRewards Gold. This paid tier unlocks advanced features, most notably the automatic activation of all available credit card offers, deal tracking, and priority customer support. The company has stated it does not sell user data. Following its participation in the Techstars Atlanta accelerator program in 2019, MaxRewards secured over $4 million in funding across two seed rounds, with the latest being a $3 million round in September 2021. This funding was aimed at team expansion, user acquisition, and potential service extension to include debit cards.

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