SHOP nets $2m investment from Reflective Venture Partners

Blockchain-enabled e-commerce company SHOP has netted $2m in an investment from Reflective Venture Partners.

Seattle-based SHOP is an e-commerce platform which rewards shoppers for providing retailers with their personal data. The platform helps customers to monetise their personal data with brands offering them personalised rewards and discounts in exchange for information.

The system aims to develop connections between shoppers and retails, boost loyalty, and improve consumer insights. Currently, SHOP is raising an ICO for its digital token which support the reward platform.

Reflective Venture Partners Greg Heuss, Managing Partner at, said, “We are extremely excited about these commitments and look forward to developing an ongoing relationship with an innovative group of dApps and mentoring SHOP.

“The path we are creating is turning the capitalization model for early-stage applications on its head. One of our goals has been to disrupt the traditional venture capital model, and we feel we’re off to a great start.”

This funding follows SHOP’s $25,000 prize for first place presentation at Shoptalk.

Reflective, which was formed through a strategic partnership with blockchain platform RChain, closed its debut vehicle with a capital pool of 100 million RHOC tokens, RChain’s native cryptocurrency.

The investment vehicle was raised to support the growth of RChain by investing and incubating solutions that can be deployed on the blockchain platform.

The e-commerce sub-sector of the payments and remittances space was dominated by Asia, with it receiving 82 per cent of the $7bn deployed globally, according to data by FinTech Global.

Copyright © 2018 FinTech Global

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