Passion Capital has led a £2.4 million investment round in Birdback, a UK-based start-up that ties retailer loyalty programmes and discounted offers to consumer payment cards.
Birdback is to use the fresh round of funds to launch its service to retailers and banks worldwide, with the UK, France and Brazil first in line.
The company's app allows consumers to tie offline loyalty offers and discount codes to their 16-digit payment card for redemption at the point-of-sale. Birdback handles the transaction on behalf of the retailer and provides an opt-in for merchants to send future offers direct to a consumer's card.
The company says it is already working on projects with the biggest retailers, affiliates and payments operators across Europe and will be announcing the first of these very soon.
Nicolai Watzenig, Founder and CEO, of Birdback will be speaking at the two-day Finextra Future Money
conference taking place at level39 in Canary Wharf in April.