# Prepaid2Cash

> Prepaid2Cash is a Birmingham, Alabama fintech that turns network-branded prepaid cards and store gift cards into spendable cash. Users scan a card in the mobile app or online and receive funds by direct deposit, instant debit transfer, PayPal, Venmo, or Bitcoin, often within minutes. Founded in 2016 by Peter Vogt and John Gushman, the company set out to unlock the billions of dollars that sit trapped on plastic every year because prepaid and gift cards can't be deposited into a bank account.

- **Founded:** 2016
- **Headquarters:** Birmingham, Alabama, United States
- **Founders:** Peter Vogt (Co-Founder & CEO), John Gushman (Co-Founder)
- **Team size:** ~3-10 (small team; ~3 listed on business databases)
- **Products:** Prepaid2Cash web platform, Prepaid2Cash mobile app (iOS & Android), Bitcoin payout option
- **Notable:** Processed $25 million in gift card transactions within a 12-month period, Grew to 225,000+ customers, Achieved 300%+ year-over-year revenue growth

## Products & services

- **Prepaid2Cash web platform** — Web-based service that lets consumers redeem network-branded (Visa, Mastercard, Amex, Discover) prepaid cards and store gift cards for cash paid by direct deposit or mailed check.
- **Prepaid2Cash mobile app (iOS & Android)** — Scan a prepaid or gift card with your phone camera and receive funds by direct deposit, instant debit transfer, PayPal, Venmo, or Bitcoin, often within minutes.
- **Bitcoin payout option** — Users can choose to receive redemption value directly to a personal Bitcoin wallet instead of a bank account; roughly 10% of transaction volume flows to crypto.

## Achievements

- Processed $25 million in gift card transactions within a 12-month period
- Grew to 225,000+ customers
- Achieved 300%+ year-over-year revenue growth
- Raised a $5.1M Series A led by Benson Capital Partners and Relevance Ventures (2021), bringing total funding to $7.2M
- CEO Peter Vogt accepted into the Forbes Finance Council (2023)
- Added Bitcoin payouts, with ~10% of volume flowing to crypto wallets

## Latest updates

- **2023-10** — CEO Peter Vogt accepted into the Forbes Finance Council.
- **2021-07** — Closed $5.1M Series A led by Benson Capital Partners and Relevance Ventures; total funding reaches $7.2M.
- **2021-01** — Expanded payout options to include Bitcoin wallets; ~10% of volume flowing to crypto.

## Links

- Website: https://prepaid2cash.com
- LinkedIn: http://www.linkedin.com/company/prepaid2cash
- Twitter/X: https://twitter.com/Prepaid2Cash
- Facebook: https://www.facebook.com/Prepaid2Cash

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Profile page: https://yespress.io/prepaid2cash
Published by YesPress — https://yespress.io
Last updated: 2026-07-11