Stealth AI Startup Rewmo Raises $28M Without a Pitch Deck

Rewmo leverages Generative AI to turn rent and loans into valuable rewards & cash, raising $28M to revolutionize the rewards industry.

SCOTTSDALE, AZ, UNITED STATES, August 20, 2024 /EINPresswire.com/ -- Rewmo, an AI-powered rewards fintech startup¹, has raised $28M in a pre-Friends & Family funding round led by Pudur Ventures. Rewmo, which transforms everyday payments like rent and loans into rewards & cash, secured this funding without using a traditional pitch deck, underscoring the excitement around its innovative approach to finance.

By utilizing Generative AI, Rewmo enables users to convert rent, loans, and other payments into rewards that can be used for home down payments, groceries, travel, shopping, and more. Rewmo is disrupting the traditional rewards fintech model, which often overlooks large payments like rent and loans, providing everyday Americans with a new way to make their money work harder for them.

"We’re transforming rent and loan payments into rewards that build financial freedom. Our platform uses AI to make traditionally unrewarded expenses valuable, giving users the power to unlock perks like never before. We’re excited about the impact this will have on everyday Americans", Gary Reinhold, Founder & CEO of Rewmo.

Arun Pudur, Rewmo’s first investor and advisor, led the round through Pudur Ventures. Ranked among the wealthiest 40 under 40 by WSJ and CNBC³, Arun’s backing speaks volumes about Rewmo’s potential to disrupt the rewards industry. His early support has been a key driver in the company's rapid fundraise and ongoing technology development.

Edward Ellis, Co-Founder and Chief Growth Officer, added: "Rewmo is here to help Americans take control of their finances through rewards and cash. Our AI-driven platform turns everyday payments into perks, giving users more control over their financial future and making personal finance more rewarding."

Rewmo plans to raise an additional $7M to complete its Friends & Family round², focusing on expanding partnerships with real estate firms, financial institutions, and retailers across the United States. As Rewmo continues to build its technology, the company aims to launch in 5 states—California, New York, and others—in the next 12 months, with plans to expand nationwide soon after.

Sripad Murthy, an advisor with 40 years of banking experience at Barclays, HSBC, and Commerzbank, strengthens Rewmo’s strategic growth.

Key Highlights:
• AI-Driven Rewards: Rewmo’s Generative AI transforms rent, loans, and everyday payments into valuable rewards, allowing users to earn perks like home down payments, travel, and more.
• $28M Pre-F&F Funding: Raised without a pitch deck.
• Massive Market Opportunity: Rewmo is set to revolutionize a $500 billion rental market and a $13 trillion untapped market of loans and everyday payments.

About Rewmo:
Rewmo is a rewards platform powered by Generative AI that transforms rent, loans, and everyday payments into valuable perks and cash. The platform helps Americans build financial freedom and credit while earning rewards for routine expenses. Backed by Pudur Ventures, Rewmo is poised to disrupt the AI Fintech rewards industry in the US.

Rewmo Investor Relations
Rewmo Corporation
+1 480-716-2729
ir@rewmo.com
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WATCH NOW: Rewmo AI - The Future of Finance and Rewards at https://vimeo.com/998554640

¹ http://www.rewmo.com
² http://www.rewmo.com
³ https://www.wsj.com/video/the-10-wealthiest-people-under-40/4624B1EA-A4C4-4A65-A8BF-6438BE2A1D72