Tango Card, a Seattle gift card startup, has reeled in $1.8 million in cash from Eric Schmidt’s Innovation Endeavors and Western Technology Investment. That follows $2.1 million which flowed into the company last year.
In addition to the new cash, Tango Card announced that former Westpac general manager of technology and Boeing Joint Strike Fighter IT director Randy Fennel has joined as chief technology officer. The company plans to use the new cash to add more software development talent.
Led by entrepreneur and former FiberTower executive David Leeds, Tango Card is a versatile gift card that allows users to manage cash balances on Android and iOS mobile devices. The Seattle company faces competition from large gift card operators, including Visa and MasterCard.
“We were attracted to Tango Card’s vision of bringing gift cards and digital goods to huge and unexplored areas, and doing this primarily through efficient and scalable software and proprietary applications,” said Dror Berman, founding managing partner at Innovation Endeavors. “We believe we can add significant value as partners and advisors and look forward to working with this exceptionally talented team.”
Previously on GeekWire: San Francisco entrepreneur finds a home in Seattle, raises $1 million for Tango Card