Bill Pay Solution Cushion Closes 12 Million Series A Funding

Cushion, a leader in bank and credit card fee negotiation, announced today that it has raised $12 million in Series A funding. The funding will enable Cushion to hire talent across product, engineering, data analytics, and marketing as it readies its bill pay solution for a general audience after months of beta testing. The already talented team includes former leaders from TwitterBill.comSquare and Credit Karma, as well as several PhDs working on the machine learning side of the product. The round was led by Rose Park Advisors, with participation from Flourish VenturesVestigo Ventures, TSEF, Green Cow Venture Capital and CMFG Ventures Discovery Fund.

“We’ve built a reputation for being a capital-efficient team that makes big bets, solves difficult problems and puts forward solutions that are orders of magnitude better than competing offerings,” Paul Kesserwani is the founder and CEO at Cushion. “Over the past decade, we’ve seen e-commerce get optimized to death. It’s easier than ever to shop online. Paying bills is the only thing that keeps the lights on in this country. Cushion’s goal is to make sure consumers never miss a bill payment ever again.”

Cushion will be able to launch the bill payment system faster with a broader team. Cushion’s new product offering is highly anticipated by over 100,000 customers. There is also a six-figure waiting list. Cushion’s solution reimagines the bill payment experience as a single place to manage, pay and finance bills, allowing customers to track bills, avoid late fees and overdrafts and borrow money when needed — all while paying just one biller, Cushion. Customers will be able to build credit scores through it.

Cushion’s bill pay offering will be in addition to its already successful fee negotiation product that refunded consumers over $10 million in a single year during the height of the pandemic. The pioneers of automated bank fees negotiation, Cushion’s team has over one million transactions, a roster top-tier fintech angel investors, and experience shipping, monetizing or scaling solutions. Cushion will be able to address the fundamental issue that causes consumers to incur fees. This will enable them to provide a solution for customers to pay their bills promptly, fully and without any fees.

“Two-thirds of consumer bills – totaling almost five times e-commerce spend in the United States – are paid manually and one at a time. We are thrilled to partner with the Cushion team to connect consumers and billers in a new and innovative way and give millions of individuals newfound confidence in their financial lives,” said Chris Calder, Rose Park Advisors Principal.

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