Prepaid2Cash was founded by financial technology entrepreneurs, and is based in San Francisco, CA. The founders frequently received rebate and award gift cards from buying goods online and could not find any way to redeem the cards for cash. After experiencing this consumer pain point first hand, they partnered with leading banking and payments institutions to offer a simple and fast service to help consumers redeem their unwanted prepaid cards and gift cards. The company and service came to be known as Prepaid2Cash, which was officially launched to the public in early 2016.