FlipGive, a Toronto-based mobile app that helps youth sports teams raise money, has received $5 million in Series A funding led by Framework Venture Partners, according to a company release. 

Other participants in the funding included iGan Partners and FJ Labs. The funding will be used to recruit more talent, add new product features, develop new business partnerships, increase marketing and provide resources for member acquisition. 

"We have only scratched the surface of what's possible in the world of team sport and club fundraising," Mark Bachman, founder and CEO of FlipGive, said in the company release. "With this investment, we will be able to provide our service to a larger, more diverse group of members and give them access to the tools they need to raise funds quicker and easier than ever before."

FlipGive partners with hundreds of major brands, including Apple, Walmart, Under Armour, Nike and Buffalo Wild Wings, to give cash back on purchases made through the app.