CEO says gift card firm is doubling revenue every 60 days
Darragh Meaney of On Me
On Me, the digital gift card provider co-founded by Irish businessman Darragh Meaney, has raised $6m in a seed funding round led by a large American venture capital firm.
The seed funding round was led by NFX, with participation from Lerer Hippeau and Focal. The round comes a year after On Me launched its platform and raised $1.7m in a pre-seed round.
Meaney, who is also CEO of On Me, told the Sunday Independent that the business was in a new phase and had been doubling revenue every 60 days over the past seven months.
“This raise allows us to lean into that momentum,” he said. “We’ve been able to hone the product by listening closely to our 75,000-plus users, while deeply fleshing out our partnership ecosystem and distribution channels.
There’s an opportunity to modernise how we celebrate moments back home
“Our focus now is on ‘product/market/channel fit’ – ensuring our digital-first gifting rails scale seamlessly as we move from zero to an annualised gifting volume of $10m.”
?Meaney said the sheer scale of the US market remained On Me’s primary focus for now. However, Ireland was “never far from my mind”, he said.
“The Irish market isn’t in our immediate crosshairs just yet, but as a founder, I would love to see our service used by Irish businesses and across the island at some stage.
“There is a massive opportunity to modernise how we celebrate moments back home, and remote gifting is a huge part of our work.”
On Me was co-founded by ex-Google workers Meaney and Sitar Harel in 2023. The firm has organised over 70 digital gift cards in categories from fitness to travel.
Meaney said On Me lets you send a digital gift card with video messages and “inside jokes”. The card is added directly to Apple Pay and works across a wide array of retailers.
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