Social Shopping App Claim Raises $12m in Funding

Claim, a fast-growing social app focused on matching users to brands based on their social habits, has raised $12 million in a Series A funding round. Launched in 2023 Claim has rapidly grown across the U.S., and has seen success in a wide range of locations – including over 70 individual college campuses.

Claim’s platform stands out from other shopping and brand-discovery apps by offering a social experience. Users can compare rewards with friends, trade offers, and explore new brands together, turning brand discovery into a shared, engaging activity. The app allows users to discover new brands through a weekly event called “The Claim Drop,” where consumers are matched with high-intent brands and earn cashback for purchases, directly credited to their Venmo accounts.

The platform’s success is driven by its appeal to Gen Z, a demographic that values authentic experiences over traditional advertisements. For brands like Sweetgreen and Shake Shack, Claim provides a targeted customer acquisition channel that bypasses conventional ad platforms like Google and Meta. Instead, brands invest in cashback offers to attract potential customers. Claim’s use of first-party data and financial transaction histories enables precise customer targeting and proven return on investment.

The app’s new funding is meant to accelerate its growth and push beyond its current network of merchants. The aim is to reach out of its current college-focused niche and broaden its appeal into a citywide app – right now, it mostly sees use by students, but the platform is pushing for a wider customer base.