Newton, Mass. – Jackpot Rewards, the operator of an online
sweepstakes service, has raised $14.1 million in venture debt, according to a
new filing by the company with the Securities and Exchange Commission.
Jackpot Rewards combines weekly sweepstakes drawings, cash rewards for online
purchases, and charitable giving services into a single portal.
For a weekly
fee of $3, users receive quarterly checks of up to 12% of their purchases at
over 500 online retailers.
They also get to pick lotto numbers that are entered
into regular drawings for a progressive jackpot worth $100 million to $150