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July 28, 2016 2:46 pm

Israeli Gift Card Start-Up Raises $9.5 Million

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Zeek App. Photo: Zeek App Preview via YouTube screenshot.

Zeek App. Photo: Zeek App Preview via YouTube screenshot. – An Israeli-based startup app for users who want to buy and sell unused gift cards, announced on Wednesday it has raised $9.5 million in a Series B funding round led by Scale-Up Venture Capital.

“We have created a unique technology that supports very high scale trading within a safe and reliable environment,” said Zeek CEO and Co-founder Daniel Zelkind. “The funding will help further investment in innovation, technology and marketing.”

Other major investors in Zeek include Blumberg Capital and Qualcomm Ventures.

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Zeek, launched in 2014 in Tel Aviv, has also expanded to the United Kingdom, and hopes to further expand into Europe, targeting the $100 billion in unused gift cards through its marketplace of trading store credit, gift vouchers, refund slips, gift cards and e-vouchers.

“We believe that Zeek will swiftly surpass $1 billion run-rate in branded currency transactions. Intimate understanding of consumer needs puts Zeek on track to become the next tech unicorn in Europe,” General partner of Scale-Up Venture Capital, Alex Lazovsky, said in a press release.

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