The Ottawa team behind an app that turns spare change into digital currency is joining a California accelerator that’s also making a “significant” investment in the company.
ChangeJar, in short, lets users save their spare change on their phone. User making a cash payment at participating merchants can ask to receive their change back on their app. That money can then be used to tip the merchant’s staff or given to other people if, say, a group of friends are ordering a pizza.
The Ottawa-based firm, which is one of Invest Ottawa’s resident companies, says it’s one of 45 companies selected from some 1,500 applicants to join the 500 Startups accelerator.
OBJ360 (Sponsored)
ExecHealth brings Canada’s leading advanced longevity program to National Capital Region
Ottawa’s ExecHealth was one of the first private clinics in Canada to provide personalized, ongoing primary care, having opened its doors 20 years ago this year. Now the pioneering local
Upgrading tech without the price tag: How one Ottawa company is changing the game
They say, “If it ain’t broke, don’t fix it.” But what if it’s outdated? Keeping up with the latest technologies can be a challenge when the pace of innovation is
It operates a four-month program and a venture capital seed fund that typically invests US$100,000 for five per cent of a company. It says it has some $250 million in assets under management and has invested in more than 1,500 companies around the world.
“Inclusion in the 500 Startups Batch 19 accelerator program as part of our latest round of angel financing recognizes the exciting potential of ChangeJar’s mobile cash payment platform,” said ChangeJar founder and CEO Tom Camps in a statement. “We’re already moving ahead full speed to advance our growth with expansion across Canada and into the U.S. in the coming months.”
ChangeJar recently celebrated its two-year anniversary and has five employees, according to Invest Ottawa.
The economic development agency says ChangeJar is the second of its resident companies to be accepted into 500 Startups after GymTrack participated in the Silicon Valley accelerator in 2014.
