Nigeria’s ThankUCash raises funding from 500 Startups mentor Brandon Drew


ThankUcash, Nigeria’s multi-merchant rewards company has raised undisclosed funding from serial investor Brandon L Drew, the co-founder and General Partner at Saas Growth Ventures, a San Francisco-based venture fund.

ThankUcash says Drew has also joined the company advisor bringing on board his operational efficiency, building and scaling of products that have achieved market penetration, and partaking in 3 exits across his 20+ years experience in the SaaS B2B space. 

Drew has served on as advisor and board member includes Vidcaster, Signal Zero, Lotadata to name a few. He is also a mentor at the renowned 500 Startups, Highway1 IoT and an active speaker at various star-ups competitions globally. He has also lectured at Universities and is currently mentoring on Entrepreneurship at University of California and the California Polytechnic State University SLO. 

Drew joining ThankUCash signifies exciting times at the company. He brings an invaluable wealth of experience to the table, which is highly needed in helping ThankUCash achieve significant growth locally and expansion to foreign markets.

“I have been exceptionally impressed with the entire executive team at ThankuCash.  They have had great insight into the marketplace and their speed of iteration on the product is like none I have seen before.  I look forward to seeing their product grow well beyond the current geo and move towards a global brand,” Brandon Drew said while sharing his excitement on joining ThankUCash’s board. 

Co-founded by Simeon Ononobi, ThankUCash is a technology company powering rewards and loyalty for African banks and businesses. ThankUCash helps merchants grow revenue by connecting them to customers within and outside of their locations while retaining acquired customers using a data analytics-powered reward system where customers earn cash rewards for every transaction made both offline and online.

CEO Simeon Ononobi expressed his delight by saying “Brandon has an unquestionable depth of experience and knowledge not many people can boast of, which is pivotal to the current phase we are in. It is a pleasure to have him onboard and we are sure to achieve great things together with him.”

This new development is coming on the back of Google executive Craig Fenton (Strategy and Operations Lead for Google’s business in UK, Ireland, and Southern Europe) joining ThankUCash’s board as the company gears for aggressive local and international expansion. 

ThankUCash was founded by Madonna Ononobi, Simeon Ononobi and Suraj Supekar in 2018 to help retail businesses grow their customer base using rewards and data analytics. It currently operates out of three locations Lagos, San Francisco and Pune. In 2020, ThankUCash was the only African startup admitted into the 26th batch of 500 startups, one of the world’s most renowned accelerator programs.