Fintech startup Drop completed $5.5 million in seed financing led by Sierra Ventures. ff Venture Capital, Portag3 Ventures, HOF Capital and White Star Capital also participated in the funding.
Drop is a coalition loyalty program that allows customers to earn points across a variety of brands in different industries, including transportation, retail, and grocery. Users can connect credit or debit cards to the Drop app and start earning points automatically. They can redeem points for instant gift cards at popular brands including Amazon, Cineplex, Apple, Tim Hortons, and Starbucks, among others.