Credit card rewards analysis company Birch Finance has closed a $1m Seed round led by AGP Miami, an angel investor network.
Participation to the round also came from former Ebates CEO Kevin Johnson and Alienware co-founder Frank Azor.
Founded in 2015, Birch is a credit card reward analysis platform that gives consumers personalised and detailed reports on past transactions and recommendation on the best credit card for them based on shopping habits. The technology helps to identify missed rewards opportunities and its geolocation feature gives real-time alerts to consumers when entering a store, to ensure they earn the most rewards there.
Capital from the round will be used to expand Birch platform, which is currently integrated with 19,000 banks and 175 different credit cards. To date, the company has helped users earn a combined total of $5m in additional reward points, according to the company.
AGP Miami managing director Raul Moas said, ?There no shortage of personal finance tools that track a user spending, but none of them offer any personalized advice, such as which cards are most effective based on the user behaviour. Birch is an innovative solution that provides an immediate benefit to consumers, so were excited to support the team as they set out to change the way people shop and pay.p>
Late last year, H.I.G. made a strategic investment in to Carlton Group, a global engagement, sales incentive and loyalty and reward card management solution developer. The Toronto-based company raised the capital to boost its technology development and support new service launches.
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