CASHDROP is a technology company.
CASHDROP has raised $3.0M across 1 funding round.
CASHDROP has raised $3.0M in total across 1 funding round.
CASHDROP has raised $3.0M in total across 1 funding round.
CASHDROP's investors include 01 Advisors, 11.2 Capital, Abstract Ventures, Kevin Hartz, Addition, Andreessen Horowitz, Array Ventures, Asylum Ventures, AXA Strategic Ventures, Bond, C2 Investment, CP Ventures.
CASHDROP is a Chicago-based mobile commerce platform founded in 2020 that enables businesses, especially small entrepreneurs and side hustlers, to create and manage online storefronts directly from a smartphone in under 15 minutes.[1][2][5] It targets young entrepreneurs, Latino business owners, and underserved users by offering a free-to-use service with no monthly or seller fees, solving high entry barriers posed by platforms like Shopify or Squarespace through integrations with Stripe and Heartland for payments.[2] The platform serves retail, software, finance, telecom, e-commerce, and mobile payments sectors, powering sales of products like food, clothing, tickets, and services, while recently expanding into a low-cost POS system for restaurants (5% checkout fee, Apple device compatible) as an alternative to Square or Clover.[1][2][4]
With $2.7 million raised from investors like Long Journey Ventures, Harlem Capital, M25, Founder Collective, and Shrug Capital, CASHDROP has gained early traction, including hires for growth and content, and real-world success stories like a 13-year-old selling slime or a couple scaling a candy hustle to brick-and-mortar.[1][2]
CASHDROP was founded in 2020 in Chicago, Illinois, by Latino tech entrepreneur Ruben Flores-Martinez, a software engineer from Milwaukee previously CEO of the sugr app, driven by a passion for accessible tech solutions.[1][2] The idea emerged from recognizing e-commerce barriers for side hustlers and small businesses—platforms like Squarespace and Shopify charge hundreds or thousands annually, excluding non-technical users or young entrepreneurs.[2] Early traction came swiftly post-launch with a $2.7 million funding round, enabling hires and product expansions like the restaurant POS platform.[2] Pivotal moments include user stories of rapid storefront setups turning ideas into revenue, humanizing its mission to democratize e-commerce.[2]
CASHDROP rides the mobile commerce and creator economy wave, capitalizing on smartphone ubiquity and the gig/side-hustle boom post-2020, where small businesses seek frictionless digital tools amid rising e-commerce (projected to hit $8T globally by 2027).[2] Timing aligns with no-code/low-code trends and inclusive tech pushes, addressing market forces like high SaaS fees excluding 70% of small merchants while fintech integrations (Stripe) enable instant scalability.[1][2] It influences the ecosystem by knocking down barriers for underrepresented founders, fostering Midwest startup growth via M25 backing, and challenging incumbents with fee-free entry that could accelerate micro-entrepreneurship in retail/POS segments.[1][2][4]
CASHDROP's trajectory points to aggressive POS expansion and potential B2B features for restaurants/small retail, leveraging its $2.7M war chest for marketing and integrations amid rising mobile payments demand.[2] Trends like AI-driven personalization, Web3 wallets, and embedded finance will shape it, potentially evolving from side-hustle enabler to full commerce stack. Its influence may grow by amplifying diverse founders, pressuring incumbents on pricing, and solidifying Chicago's fintech hub status—watch for Series A as user traction compounds.[1][2] This mobile-native disruptor exemplifies how accessible tech unlocks entrepreneurship at scale.
CASHDROP has raised $3.0M across 1 funding round. Most recently, it raised $3.0M Seed in August 2020.
| Date | Round | Lead Investors | Other Investors |
|---|---|---|---|
| Aug 1, 2020 | $3.0M Seed | 01 Advisors, 11.2 Capital, Abstract Ventures, Kevin Hartz, Addition, Andreessen Horowitz, Array Ventures, Asylum Ventures, AXA Strategic Ventures, Bond, C2 Investment, CP Ventures, Craft Ventures, E-Merge, Founder Collective, General Catalyst, Great Oaks Venture Capital, M.G. Siegler, Harlem Capital, Helpful Capital, IA Ventures, Kleiner Perkins, LAUNCH, Ligature, Long Journey Ventures, Ludlow Ventures, Path Ventures, Point Nine Capital, Social Starts, Tribe Capital, Upfront Ventures, Vinyl Capital, Alex Rodriguez, WGI Group, Chris Murphy, DJ Patil, Dylan Field, George Godula, Hiten Shah, Jared Leto, John M. Mueller, Jon Steinberg, Julia Hartz, Kyle York, Mathilde Collin, MG Siegler, Mike Krieger, Mike Volpe, Moshe Lifschitz, Pete Moore, Rob May, Roger Ehrenberg, Scott Banister, Scott Belsky, Yoshinari Yoshikawa, Zachary Hargreaves |