San Francisco — (Business Wire) — Meemo, the social financial application, is announcing they are emerging from a year-long stealth period in the Bay Area after successfully raising $10MM in funding.
Institutional investors include Saama Capital, Greycroft, monashees and Sierra Ventures. In addition, Amit Singhal, Hans Tung of GGV capital, and several serial entrepreneurs including past colleagues from Google and Snap have also invested in this round.
Meemo was created by the veteran engineering team that worked on Google Search and helped found Snap’s San Francisco office. The app offers AI powered search, modern peer-to-peer sharing, personalized insights, and rewards based on their transaction and purchase history.
“Our insight is that an individual’s relationship with money is a delicate and an emotional one,” said André Madeira, co-founder of Meemo. “Most financial apps are not adopted by the masses because they are strict, lack empathy, and are unconsciously perceived as judgmental, which is why they are often downloaded and then ignored.”
The company name is taken from the Portuguese word “mimo,” meaning an affectionate treat; and as such Meemo shares effortless rewards with users for the ways they are already spending. Based on your purchase history, the app automatically sends users a meemo, which is a novel electronic gift card that reimburses the recipients when they spend at specific merchants. Users can also send peer-to-peer meemos, sharing their favorite experiences, brands, or even cash using Meemo cash.
Meemo’s user-friendly interface is designed to deconstruct the social stigmas around money, enabling people to bond over their purchasing preferences and encouraging the discovery of brands and shops. By making personal finance social and automatic, Meemo encourages users to learn from their friends, share and suggest real-life experiences, and become more financially aware.
You can find Meemo at
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