Cinch
Mobile Wallet App to Benefit Local Communities
Fintech & Insurtech
Non Active, Feb 2019 ceased to operate
Company Overview
Snapshot
Founded in January 2015 by Jack Elaad, Maya Komerov, and Marc Liebmann, Cinch operated with 11–50 employees. The company raised $1.4 million across one funding round from two investors. Cinch ceased operations in February 2019.
Business overview
Cinch developed the Cinch Mobile Wallet, an application designed to connect local businesses, consumers, and communities. The platform aimed to encourage local shopping by enabling consumers to save money while supporting their community. Cinch focused on circulating money within local economies and contributing a portion of proceeds to local causes. The company operated in the Fintech & Insurtech sector, serving SMBs, restaurants, and retailers in the United States.
Company Intelligence Q&A
- What is Cinch Mobile Wallet?
- Cinch Mobile Wallet is an application developed by Cinch to connect local businesses, consumers, and communities, encouraging local shopping and contributing to local causes.
- When was Cinch founded and by whom?
- Cinch was founded in January 2015 by Jack Elaad, Maya Komerov, and Marc Liebmann.
- What was Cinch's primary business model?
- Cinch operated with both B2C and B2B business models, connecting consumers with local businesses through its mobile wallet application.
- What was the total capital raised by Cinch?
- Cinch raised a total of $1.4 million across one funding round.
- When did Cinch cease operations?
- Cinch ceased to operate in February 2019.