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StormX Raises $9M in Funding Round for Rewards Debit Card, US Growth

The funding will also be used to make the app interface more user-friendly and make it easy for customers to sign up for the debit card.

Updated Sep 14, 2021, 1:31 p.m. Published Jul 27, 2021, 2:00 p.m.

Crypto cashback app StormX has secured $9 million in a funding round led by Optimista Capital to support its plans for a debit card and to expand across the U.S. later this year.

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The funding will also be used to make the app interface more user-friendly and make it easy for customers to sign up for the debit card, the firm said.
StormX said the debit card will launch in the U.S later this year, and then in the rest of the world. The card will offer users in-store rewards in 15,000 locations in partnership with retail and food and beverage companies.
In June, StormX announced the Portland Trail Blazers will feature StormX advertising patches on their jerseys under a sponsorship deal with the National Basketball Association team.
The new funding will also be used to hire new employees and to increase athlete and e-sport marketing, the firm said.

Debit Cards Funding StormX

Tanzeel Akhtar

Tanzeel Akhtar has contributed to The Wall Street Journal, BBC, Bloomberg, CNBC, Forbes Africa, Financial Times, The Street, Citywire, Investing.com, Euromoney, Yahoo! Finance, Benzinga, Kitco News, African Business Magazine, Hedge Week, Campden Family Office, Modern Investor, Spear's Wealth Management Magazine, Global Investor, ETF.com, ETF Stream, CIO UK, Funds Global Asia, Portfolio Institutional, Interactive Investor, Bitcoin Magazine, CryptoNews.com, Bitcoin.com, The Local, The Next Web, Mining Journal, Money Marketing, Marketing Week and more. Tanzeel trained as a foreign correspondent at the University of Helsinki, Finland and newspaper journalist at the University of Central Lancashire, UK. She holds a BA (Honours) in English Literature from the Manchester Metropolitan University, UK and completed a semester abroad as an ERASMUS student at the National and Kapodistrian University of Athens, Greece. She is NCTJ Qualified - Media Law, Public Administration and passed the Shorthand 100WPM with distinction. She does not currently hold value in any digital currencies or projects.