Super.com: The $1.2 Billion Startup That Wants to Be Amazon Prime for Savings

Toronto-based Super.com has raised $65 million in its Series D funding round led by TPG, as the company surpasses $200 million in net revenue, grows over 50% year-over-year, and turns profitable. The savings app for everyday Americans functions like a Costco membership crossed with a financial services toolkit. For a $15 monthly fee, members get up to 40% off hotels, cashback on everyday purchases, prescription discounts, cash advances when they’re short, and credit-building tools. The company’s Super+ membership is approaching one million members and has helped customers put over $1 billion back in their pockets.

Super.com started as SnapTravel in 2016, a hotel-booking bot, before COVID nearly killed it. CEO Hussein Fazal survived, and in doing so, identified his true customer base: people booking two-star hotels where his $10 discount was the difference between taking the trip or not, mostly paying with debit because they couldn’t get a credit card.

Shopify’s President Harley Finkelstein joined as board observer and put in his own personal money: 'Super.com is doing something that’s almost the opposite of Amazon Prime,' Finkelstein told me. 'Amazon made spending frictionless for people with means. Super.com is making savings frictionless for the 100 million Americans living paycheck to paycheck.' He called Fazal’s 'give-a-shit quotient' one of the highest of any founder he’d ever met.

The personal finance apps market is projected to balloon from $31.7 billion to $173.6 billion by 2035, and the competition is intensifying: Rakuten, Capital One Shopping, and now-public Chime all want the same wallet share. Fazal is aiming exceptionally high. 'I’d love every American to have Amazon Prime, Costco, and Super+ as the essential memberships that help them save time and money,' he said.

In conclusion, Super.com's growth and success are notable, especially considering its focus on low-income consumers. The company's future looks bright, with potential for further expansion and becoming a major player in the personal finance apps market.

A Name in the Market: The Story Behind Super.com's Rise