Loyalty wallet Bink secures £2 million in new funding
08 December 2016 | 6957 views | 0
Digital loyalty startup Bink has secured £2 million in financing from angel investors, bringing total funding to over £10 million.
Launched in the UK in October, Bink's app links consumers' payment cards to merchant loyalty schemes.
The company has already secured deals with major retailer chains Avios, PizzaExpress, Virgin Atlantic, Arcadia Group, River Island and Morrisons, who are able to tap in to consumer spending patterns and target users with relevant offers using the startup's digital marketing platform.
Greg Gormley, co-founder of Bink comments on the funding: “Right now, loyalty systems are not making the most of the opportunity. We’ve all been in the situation - at the checkout we reach for our wallets or purses and find that we have forgotten the appropriate loyalty card - that’s points and ultimately rewards down the drain. Retailers need to be making it easier for their customers to earn their deserved rewards and Bink lets them do exactly that - to never miss out again.”
The company recently appointed Bob Wigley (former chair of Merrill Lynch Emea) as chairman and Visa Europe head Steve perry as a non-executive.