Drop
Company

Last deal

Amount

Venture - Series Unknown

Stage

01.04.2021

Date

3

all rounds

$56.17M

Total amount

date founded

Financing round

General

About Company
Drop is a rewards application that helps users earn points from purchases and redeem them for instant rewards.

Industry

Sector :

Subsector :

Keywords :

Also Known As

joindrop.com

founded date

01.01.2015

Number of employees

Company Type

For Profit

Last funding type

Venture - Series Unknown

IPO status

Private

Description

The Toronto-based company, which operates globally, offers a personalized loyalty program that connects users with over 400 partner brands. Drop's platform seamlessly connects members' financial institutions, allowing them to earn rewards for both online and offline purchases and survey completions. Since its 2015 launch, Drop has partnered with over 500 brands and has over 5 million members in North America who have spent over $144 billion. The company has raised over $70 million from investors such as NEA, ff Venture Capital, and RBC Capital.
Contacts

Contact Email

Social url

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Number of Funding Rounds

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Money Raised

Their latest funding was raised on 01.04.2021. Their latest investor Tom Williams. Their latest round Venture - Series Unknown

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Co-Investors
Investors
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Number of lead investors

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Number of investors

Investor 
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Partners 
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Acquisitions
1
Acquiree Name 
Date 
Price 
Acquisition Name 
Canopy Labs acquired by Drop

Canopy Labs acquired by Drop

acquirer

Drop
Drop

date

15.11.2018

type

Acquisition
Canopy Labs

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$2.06M

People

Founders
4
Darren Fung
Darren Fung

Darren Fung

Darren Fung is the co-founder and CTO of Drop, an intelligent mobile rewards platform that curates personalized rewards and offers for everyday spending. Drop aims to modernize the loyalty space, removing the need for physical cards and creating a product that works seamlessly in the background as you spend. Launched in late 2016, Drop has since raised over $28 million in venture funding and has over 2 million members. In 2013, while still a software engineering student at the University of Waterloo, Darren led the engineering team at Tunezy, a platform for online musicians. Darren was instrumental to Tunezy's success winning the Innovator's Showcase Award by Billboard and National Business and Technology Conference Entrepreneurship. After Tunezy sold to SFX Entertainment (NASDAQ: SFXE), Darren returned to school to complete his degree and subsequently joined Eventbrite as a software engineer, where he was key to the release of its pick-a-seat and reserved seating features. With a personal interest in scalable architecture and distributed services, Darren's focus is to take modern technologies and create products that solve consumer needs.

current job

Drop
Drop

organization founded

1

Darren Fung

Cameron Dearsley
Cameron Dearsley

Cameron Dearsley

current job

Cardify
Cardify

organization founded

1

Cameron Dearsley

Derrick Fung
Derrick Fung

Derrick Fung

Derrick is the CEO of Tunezy Drop is a financial technology company focused on bringing value to millennials. Drop is designed to fit into any lifestyle — anyone can earn rewards, even if they don’t use a credit card. Together, we are helping our members get rewarded everyday. Without adding debt, or charges.

current job

Cardify
Cardify

count Of Investments

2

count Of Exists

1

Derrick Fung

Akhil Gupta
Akhil Gupta

Akhil Gupta

organization founded

1

Akhil Gupta

Employee Profiles
37
Matt Himel

Matt Himel

VP, Enterprise Sales and Strategic Partnerships

Amber Foucault

Amber Foucault

Head Of Products

Shouvik Roy

Shouvik Roy

Chief Financial Officer

Jorge Escobedo

Jorge Escobedo

VP Engineering

Paul Crowe

Paul Crowe

Chief Revenue Officer

Alisa Antinozzi

Alisa Antinozzi

People & Culture Manager

Nick Gray

Nick Gray

Director of Product

Peter Kuczera

Devops engineer

Activity

Recent News
0