SCVNGR, the Boston, MA-based app developer led by Seth Priebatsch, has raised $12m in funding.
Backers include existing investors Highland Capital Partners, Google Ventures, Balderton Capital and new investors Continental Investors and Transmedia Capital.
The company intends to use the funding to further develop and expand nationwide the reach of LevelUp, its mobile payment app which enables its users to pay with their phones by linking their credit or debit card to the app and scanning it at checkout. It is now available at more than 3,000 merchant partners in 8 U.S. cities, including fast-casual chains like boloco, Johnny Rockets, and Ben & Jerry’s, which are able to attract new customers with incentives while motivating them to become regular customers with loyalty rewards.
LevelUp currently has nearly 200k users.
The company is currently hiring (https://www.thelevelup.com/jobs).
FinSMEs
08/06/2012