Seattle’s Copper has landed a high-profile new backer as it looks to accelerate growth of its consumer rewards platform, announcing Tuesday that Grammy-winning artist, DJ and entrepreneur Diplo has invested in the company.
Financial terms of the investment were not disclosed.
“I’m always looking for things that actually make sense for people,” Diplo said in a statement. “Copper’s one of those — you’re already on your phone, you’re already spending money, and this gives something back. That’s real.”
Copper says more than 4 million members use its platform to earn money through mobile games, cash-back offers and purchases.
Copper CEO Eddie Behringer, who previously co-founded Snap! Raise, said the company is building an alternative to consumer apps that monetize users’ attention.
“Most consumer apps are designed to take more from the user — more time, more money, more attention,” Behringer said in a LinkedIn post. “At Copper, we’re building the opposite.”
Founded in 2019, Copper originally launched as a banking app for teenagers. GeekWire covered the startup in 2022 after it raised $29 million in funding to expand into investing products, at a time when the company had nearly 1 million users.
The startup has since evolved into a broader consumer rewards platform. Copper has raised $42 million to date and recently ranked No. 2 among the Pacific Northwest’s fastest-growing companies in Deloitte’s Technology Fast 500 rankings, based on three-year revenue growth.
Diplo, whose real name is Thomas Wesley Pentz, has built a business portfolio that extends beyond music, investing in technology and consumer startups while launching ventures such as Diplo’s Run Club, a series of 5K races paired with music festivals.
He’s a three-time Grammy winner, and has collaborated with artists like Labrinth and Sia as part of the musical group LSD and worked with musician Mark Ronson on Silk City. He’s also the founder of record label Mad Decent.
In 2024, Copper discontinued its banking services following the collapse of fintech infrastructure provider Synapse, forcing the startup to pivot away from its original business. “Despite our prior planning, this event has forced us to close banking accounts much sooner than anticipated,” Behringer wrote at the time.
The company has since rebuilt around its rewards platform, which it says now serves millions of users.
Behringer said that the company’s mission was always about helping families improve their financial lives.
“As household costs rose, we saw an even bigger opportunity to help the person making everyday spending decisions earn more from the things they were already doing—from buying groceries to shopping in-store and spending time on their phone,” Behringer tells GeekWire via email. “Diplo’s investment is meaningful validation of how far that evolution has come.”
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