
Sift wallet
Free application that maximizes credit card benefits and earns reimbursements for consumers.
Date | Investors | Amount | Round |
---|---|---|---|
- | investor investor investor | €0.0 | round |
N/A | €0.0 | round | |
investor investor investor investor investor investor | €0.0 | round | |
N/A | Convertible | ||
Total Funding | 000k |
Related Content
Siftwallet operates as a fintech service provider, offering a mobile-first platform designed to maximize consumer savings by automating the tracking and claiming of hidden credit card benefits. Founded in 2015 by Abhinav Dubey, Ramesh Varma, and Janne Salminen, the San Francisco-based company aims to bring transparency to the credit card market by making consumers aware of often-overlooked perks. The company secured $1.67 million in seed funding over two rounds, with the initial round of $1.5 million in March 2017 led by investors such as Liquid 2 Ventures and Plug and Play Tech Center.
The core of Sift's business is a mobile application that, once linked to a user's credit cards, automatically analyzes and tracks benefits associated with each purchase. The platform's primary function is to identify potential savings through features like price protection, where it monitors for price drops on purchased items and automatically files for a refund on the user's behalf. Beyond price adjustments, the service extends to managing extended warranties, return protection, and theft or damage protection for purchased goods. Sift's system is designed to handle the entire claims process, with refunds issued to the user via check or a direct credit card refund. During its beta phase, users reportedly achieved savings averaging between 5% and 10% of their credit card spending.
The business model targets individual credit card holders who are often unaware of the full extent of their card benefits or lack the time to navigate the complex terms and claim procedures. By automating this process, Sift aggregates small, often-ignored savings into substantial amounts. The service initially launched on iOS and was recognized by Apple as a 'Google Play Best of 2018 Winner'. The company also helps users manage spending by notifying them of unusually high expenditures or unused subscriptions, positioning itself as a comprehensive smart wallet solution. Keywords: Siftwallet, credit card benefits, price protection, automated refunds, expense tracking, personal finance app, extended warranty, return protection, consumer savings, fintech service, Abhinav Dubey, Ramesh Varma, Janne Salminen, smart wallet, cash back, subscription management, purchase protection, financial management, mobile finance, spending alerts