Cottonwood Heights, Utah-based Mercato Partners has led a $60 million Series A round of funding in Chicago-based Klover.

According to the news release, the Mercato investment in FinTech Klover was made through Mercato's growth equity fund: Traverse.

Klover offers a free app that allows consumers to instantly get a digital cash advances. In return, Klover serves-up various ad/marketing products and services to Klover users.

Joe Kaiser, director at Mercato Partners Traverse Fund, explained Klover this way:

"By paying consumers for what is rightfully theirs and by scrupulously protecting individual privacy, Klover returns power to the consumers while offering innovative solutions to an underserved market."

Apparently, Klover has 1.5 million users to date.

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