College students could start using their dining dollars for DoorDash meals thanks to this startup
College students often have hundreds or thousands of dining dollars to spend as part of their meal plans each school year. But where they can spend those dollars is limited to cafeterias or on-campus convenience stores.The startup works with university campuses to let students spend their dining dollars on off-campus food purchases such as delivery through DoorDash, founder Alex Parmley told Insider.
But demand for on-campus food delivery dried up in 2020 as COVID spread, classes went online, and students left university campuses to go home, Parmley said. The company now connects students' dining accounts to the Discover Global Network, which allows them to use their dining dollars like a regular debit card outside of their university.In October, Phood earned $1 million in funding from 43North, a Buffalo, New York-based startup accelerator, using its new approach.Students at universities that work with Phood can get a digital card that they keep in a virtual wallet. They can then use that card to make purchases online or in-person.
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