On Me Secures $6 Million to Transform the Gift Card Landscape
In a significant move poised to redefine the gift card industry, On Me, a digital gifting platform established by ex-Google employees, has successfully raised $6 million in seed funding. This financial boost is earmarked to broaden the platform’s offerings, introducing categories such as horseback riding lessons, wine tastings, and theme park excursions.
On Me distinguishes itself by offering a mobile-centric platform that allows users to purchase digital gift cards based on recipients’ interests, moving beyond the traditional model tied to specific retailers. For instance, if a friend is an avid tennis enthusiast, you can send them a digital card enabling purchases from renowned brands like Wilson, On, and Prince.
The platform currently boasts 72 diverse categories, encompassing activities and hobbies such as running, reading, camping, gardening, gaming, and attending concerts. To enhance the gifting experience, users can personalize their digital cards by attaching video messages, photos, and GIFs. On Me is accessible via its website and through dedicated iOS and Android applications.
Darragh Meaney, CEO and co-founder of On Me, highlights the environmental concerns associated with traditional plastic gift cards. According to the International Card Manufacturers Association (ICMA), approximately 30 billion plastic cards are produced globally each year, with over 70% discarded within six months, contributing to an estimated 53 million tons of plastic waste. Meaney emphasizes that this practice is environmentally unsustainable and misaligned with contemporary lifestyles.
To further integrate into users’ daily lives, On Me’s digital cards are compatible with Apple Pay and Google Wallet, facilitating seamless transactions.
With the global gift card market projected to reach $2.3 trillion by 2030, On Me is strategically positioned for substantial growth. Since its inception, the company has facilitated over $2.5 million in gifts for more than 26,000 users, achieving a monthly growth rate of 50%.
The recent seed funding round was led by NFX, with contributions from Lerer Hippeau and Focal. This investment follows a $1.7 million pre-seed round raised a year prior, underscoring investor confidence in On Me’s innovative approach to digital gifting.
