U.S.-based Dosh, a cash back app, has raised $40 million in a Series B financing round, including $20 million in equity and $20 million in venture debt.

Dosh intends to use the financing to further advance product modernization, accelerate technical capabilities, employ the highest-caliber talent and create personalized experiences for consumers.

Goodwater Capital and Western Technology Investment led the financing round with participation from backers PayPal, BAM Capital and Anthem Venture Partners.

Dosh has bagged a total of $97 million in over 9 funding rounds.