University Fancards Closes $2.5 Million Financing Round
Proceeds to Accelerate Growth
BIRMINGHAM, Ala., May 1, 2018 /PRNewswire/ — University Fancards, home to The Official Prepaid Card of College Sports™ and The Official Gift Card of College Sports™, announced the closing of a $2.5 million funding round involving both debt and equity, bringing total-to-date funding to more than $5.4 million.
«We’ve proven the success and value of connecting fans with their teams through both prepaid reloadable cards and gift cards,» said Fancards CEO Lynn Boggs, who is an experienced veteran in the payment technology space. «Since our founding, we have grown the number of partner universities, retail relationships, and customers. This round of funding enables us to continue bringing more cards to more fans and accelerate our growth, including through a planned upcoming «A» round of institutional funding.»
University Fancards is known nationwide for their collegiately-branded prepaid reloadable cards as well as collegiately-branded gift cards for 22 different universities throughout the country. These cards enable fans to show their loyalty, passion, and enthusiasm for their respective schools. Fancard prepaid reloadable cards can be found online at myfancard.com. Fancard gift cards can be found in major retailers across the country, and will be introduced into several new major big box, grocery, pharmacy, and convenience stores this fall.
Since July of 2017, University Fancards has formed exclusive partnerships with 7 additional collegiate athletic programs, including:
- Michigan Wolverines
- Michigan State Spartans
- Texas A&M Aggies
- Cal Golden Bears
- Oklahoma State Cowboys
- Boise State Broncos
- Texas Tech Red Raiders
«Fancards has always been well received, from our initial partnership with the Alabama Crimson Tide to interacting with fans while tailgating across the country at college football games, the enthusiasm of people that see and use our cards is overwhelming,» said Boggs. «Our goal is to bring cards to market for more than 60 colleges and universities nationwide and to have gift cards offered in additional nationwide chains in the near future.»
About University Fancards
University Fancards, known as «The Official Prepaid Card of College Sports™» and «The Official Gift Card of College Sports™», was founded in 2015 and is headquartered in Birmingham, Alabama. University Fancards is the leading provider nationwide of collegiately licensed gift cards and prepaid reloadable cards. Fancards has teamed up with some of the most prestigious brands in the country, including the Alabama Crimson Tide, Florida Gators, Michigan Wolverines, Tennessee Volunteers, Texas Longhorns and more, to create exciting prepaid products that let fans «Pay with Pride» everywhere they go. For more information, including Fancards’ full list of 22 teams and announcements featuring new schools being added to the Fancards family, visit ufancards.com.
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SOURCE University Fancards