ERN, a start-up promising to help banks and merchants aggregate and analyse data generated by card transactions, has raised $1 million in funding and hired MasterCard and Citi veteran Brian Thom for a push into the Asian market.
Launched in February, ERN's Looop platform brings together card payment and merchant data in real time to enable banks and retailers to see the granular detail of every purchase.
Thom, a 34-year financial services industry veteran, joins as ERN president for Asia, based in Singapore, and also takes a seat on the start-up's board.
Among his previous roles, Thom has served as president of Citibank Card Services in Japan, regional marketing head for MasterCard Asia Pacific, and head of global marketing at American Express Bank.
The $1 million in seed funding - which will be used by Thom to build ERN's presence in Asia - brings the total raised by the company to $5.6 million to date.
Dan Brassington, CEO, ERN, says: "Brian is another high-profile addition to ERN's executive management team and board, his vast experience will be invaluable in helping the company to develop its operations in the Asian markets."