24 March 2018

Ribbit.me raises $1.5 million seed round

26 February 2016  |  3462 views  |  0 Source: Ribbit.me

Ribbit.me, a NY-based blockchain technology startup, announced that it closed a $1.5 million seed round, led by Hayaat Group, an investment company based in Dubai, with Privity FZ LLE acting as advisor.

Ribbit.me has built the world's first universal platform for the loyalty and rewards industry using blockchain and smart contract technology. Currently, program operators such as airlines or hotels, are faced with high operational costs and outdated processes, resulting in a poor customer experience.

Ribbit.me's universal platform coupled with its patent-pending technology enables program operators to reduce costs by sharing a distributed ledger, thus streamlining the customer experience while more effectively managing the rewards liability.

The US loyalty and rewards market alone is $65B this year and expected to double in the next 5 years. Ribbit.me's vision is to remove the friction preventing program operators from working together in redemption networks by creating a single ecosystem, the LoyaltyNetwork.

"We are the first company to introduce blockchain and smart contract technology to the loyalty and rewards industry," said Greg Simon, CEO and Co-Founder of Ribbit.me. "This funding will allow us to accelerate development by expanding our team as more behavior incentification opportunities arise beyond the traditional model."

Comments: (0)

Comment on this story (membership required)

Related blogs

Create a blog about this story (membership required)
Register your place todayVisit www.nextgenbanking.co.ukVisit http://info.nice.com

Top topics

Most viewed Most shared
hands typing furiouslyBitcoin at 50,000 USD?
14746 views 0 | 8 tweets | 5 linkedin
BBVA tests 'invisible payments' technology at inhouse cafeBBVA tests 'invisible payments' technology...
12194 views comments | 16 tweets | 35 linkedin
RBS hatches plan to create digital challenger bankRBS hatches plan to create digital challen...
11833 views comments | 12 tweets | 23 linkedin
Barclays partners seven watch brands for contactless timepiecesBarclays partners seven watch brands for c...
10724 views comments | 14 tweets | 32 linkedin
Germany's N26 readies for US launch with EUR110 million capital injection led by Allianz and TenCentGermany's N26 readies for US launch with E...
8703 views comments | 15 tweets | 10 linkedin

Featured job

Basic c.£90K OTE c.£180K plus full benefits pac...
London based

Find your next job