Cushion Raises $2.8M in Seed Funding
Summary
Cushion , a San Francisco, CA-based app for consumers in the US to negotiate their bank and credit card fees, raised $2.8m in seed funding. The company intends to use the funds to hire engineers and data scientists to grow its customer base, scale the platform, and roll out the next suite of financial health-driven products. Led by Paul Kesserwani, CEO and founder, Cushion uses an artificial intelligence (AI) bot to connect with banks on behalf of users to analyze their transaction histories, identify fees and interest charges, and negotiate their reduction or removal. The AI then runs a series of calculations to determine which fees should be negotiated and then engages the customer’s bank via secure email or online chat—just like a human would. Since its launch in 2018, the app has enabled consumers to secure more than $1 million in bank fee refunds.
Funding
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