Popwallet, a mobile wallet marketing solution, has scored $4m in a seed round led by Stout Street Capital.
Other contributions to the round came from Loeb.nyc, 3Lines Venture Capital, IrishAngels, Cultivation Capital, MATH Venture Partners, Entrepreneurs Roundtable Accelerator and unnamed angels from the marketing technology space.
Popwallet enables brand marketers to build personalized and connected experiences through mobile wallets like Apple Wallet and Google Pay. The platform enables companies to create coupons, offers, tickets, gift cards, loyalty cards and membership IDs. Additionally, businesses can use Popwallet to reward a VIP, reveal a new product and more.
Having closed the round, the company is looking to increase its sales and marketing efforts, as well as seek additional partnerships and platform integrations.
Stout Street Capital partner John Francis said, “Popwallet addresses a growing need for brands to engage directly with their consumers. Brands are seeing diminishing rates of returns as consumers are increasingly tuning out conventional channels such as email, print, and even social media. We believe Popwallet is a game-changer for brands and is poised for massive growth and adoption.”
As part of the deal, Francis will join the Popwallet board of directors, as will with Guerra and Founder and CTO Wes Biggs.
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