Benjamin Capital Partners, Inc.

Benjamin Capital Partners, Inc. is a New York-headquartered financial technology company that operates as the holding company for the Benjamin app, a consumer cash-rewards platform for consumers, merchants and gamers. The app pays users cash rewards, which the company brands "Benjamin Money Moments" (or "MoMos"), for a range of everyday activities: playing rewarded mobile games, completing surveys, watching ads, scanning shopping receipts, downloading apps, shopping online and in store, and making card purchases eligible for cash back. The company emphasizes that rewards are denominated in actual cash rather than points, with a stated goal of enabling each user to earn at least $100 — "a Benjamin" — per month.

The company describes itself as a financial technology company and not a bank. Its stated product pillars include mobile gaming rewards, daily cash back on routine purchases, and "Social Money" features such as earning for creating social posts. Company communications also point to expansion ambitions in commerce, payments and advertising, and to the use of first-party, consented consumer data as an asset for brand marketers in an environment of digital-advertising signal loss. In September 2024 the company acquired Austin-based New Thing Co., adding an augmented-reality rewards tool for brand marketers to the Benjamin app.

Founding story

The company was founded by Erno Tauriainen, described as a 15-year veteran of the cash rewards space with two prior exits, who serves as Founder and Chief Product Officer. It is led by digital media and advertising veteran Lon Otremba, who joined as the company's first CEO in connection with the March 2024 seed round; Otremba previously led native advertising platform Bidtellect through its acquisition by Simpli.fi, ran AOL's Interactive Marketing Group, was founding President of Mail.com and a founding executive at CNET Networks.

Business model

Benjamin Capital Partners is a holding company whose operating asset is the Benjamin consumer app. Consumers are paid cash for engaging with rewarded games, surveys, advertisements, receipt scanning and cash-back shopping, with the company positioned between consumers and the merchants, game publishers and advertisers that fund those rewards; the company also markets partnership opportunities to brands and merchants via a "Partner With Us" channel.

Monetization derives from advertisers, brand marketers, merchants and mobile game publishers that pay for user engagement, purchases and attention, a share of which is passed to users as cash rewards. Reported revenue was approaching $4 million in monthly recurring revenue in September 2024, after month-over-month growth north of 40% from the October 2023 launch through early 2024.

Traction

The app came out of beta in October 2023. By March 2024 it reported over 300,000 installs and 195,000 monthly active users, with more than 50% of installs converting to MAUs and revenue growing more than 40% month over month. By September 2024 it reported over 1 million downloads, more than 900,000 monthly active users and monthly recurring revenue approaching $4 million; the company website cites over 1 million users.

Latest developments

In September 2024 the company completed the acquisition of New Thing Co. and disclosed a $13 million capital raise of debt and equity from existing investors Play Ventures and Big Bets VC, stating the capital would fund scaling of its user base and expansion into commerce, payments and advertising verticals.