Stocard, a Mannheim, Germany-based mobile loyalty wallet, secured $20m in funding.
Backers included Macquarie Capital, Shortcut, Alstin, Rocketship, HTGF and Englehorn.
The company intends to use the funds to launch a mobile payment functionality, recruit 40 employees across engineering, Sales and Marketing, and expand to new markets starting with the launch of its Paris office today, and Toronto, Canada launch in the coming weeks.
Led by Björn Goß and David Handlos, Stocard allows 25 million users globally to store their loyalty cards in one app and collect points and rewards without having to carry around plastic loyalty cards. In addition, users receive personalized offers from their favourite retailers, see their current points balance and transactions in real-time, and can sign up for new loyalty programmes right inside the app.
For retailers, Stocard provides a new communication channel right inside the consumer’s wallet, allowing them to offer the latest personalized offers or prompt a customer to sign up for a loyalty program. Over 4,000 international brands are currently available in Stocard including Carrefour, Ikea, and Decathlon. Shortly, the company will launch a payment feature allowing consumers to make purchases straight from the app.
It has offices in Sydney, Australia, Rome, Italy, Amsterdam for Benelux, Mannheim, Germany, just opened a new office in Paris, France and is looking to open an office in Toronto, Canada shortly.