WALTHAM, MA, Coupon company SavingStar Inc. has taken the $7 million in financing the company reported in April. According to SEC filings, SavingStar is hoping to cap the Series B round at $9.7 million eventually.

SavingStar is the first national, fully digital, grocery eCoupon service, available for free at www.savingstar.com and on iPhone and Android mobile apps.

Providing exclusive eCoupons redeemable at over 24,000 grocery and drug stores throughout the country, SavingStar's eCoupons are linked to customers' loyalty cards and offer a more convenient and eco-friendly way to save on groceries than paper coupons. SavingStar automatically adds the value of each eCoupon redeemed into users' SavingStar accounts, enabling them to pick their payout from cash to gift cards to charity donations.

Prior to founding SavingStar, CEO David Rochon and President Michael Libenson built the grocery segment for Upromise.com enabling eCoupons for its 13 million members who save for college. SavingStar's founding team spun off from Upromise in 2010, and the company now also powers Upromise's Grocery eCoupons.