In our latest Latitude with 43North episode, we sat down with Daricus Releford, Co-founder and CEO of StoreCash, a dynamic app that’s reshaping how you save at your favorite stores. Daricus, part of our year nine cohort, shares the ins and outs of StoreCash, its unique features, and his journey as a black founder in the startup landscape.
StoreCash App
StoreCash isn’t just another cashback platform; it’s a game-changer. Daricus explains how the app allows users to save 7-15% at over 400 retailers, including major names like Petco, H&M, Subway, and Target. The app’s real innovation lies in its instant cashback system, utilizing QR codes and barcodes for seamless transactions.
How StoreCash Works
Daricus breaks down the process: users download the app, receive notifications about cashback opportunities when in-store, and instantly generate QR codes or barcodes to pay. This sets StoreCash apart from competitors by providing immediate savings rather than waiting 30-60 days for cashback.
Financial Impact and User Experience
The financial benefits for everyday shoppers are significant. Daricus reveals that users typically save between $50-$75 monthly, totaling around $900 a year. With a subscription fee of just $2 per month, the return on investment is substantial.
The Entrepreneurial Journey
Daricus shares the inspiration behind StoreCash, recounting a pivotal moment when his nephew asked for money. This sparked the idea of redirecting retailer incentives back to customers, aiming to alleviate financial stress for those living paycheck to paycheck. Daricus draws from his experience working at tech giants like Google, Apple, and Facebook, emphasizing the importance of creating value for users.
Navigating Challenges as a Black Founder
In light of Black History Month, Daricus shares his fundraising journey, emphasizing the low percentage of capital allocated to Black founders. Despite facing numerous hurdles, he offers advice to aspiring entrepreneurs: persevere, believe in your vision, and be prepared for rejection. Drricus and fellow cohort member Evan Leaphart, Founder of Kredit Academy and Black Men Talk Tech, represent a pioneering spirit in the startup community.
What’s Next for StoreCash
Looking ahead, StoreCash is gearing up for significant growth with a new funding round and a focus on enhancing user experience. Daricus invites potential hires and users to connect through storecashapp.com, emphasizing the exciting journey that lies ahead for StoreCash.
Connect with Daricus:
LinkedIn: Daricus Releford
Download StoreCash
Other Mentions:
