Bits of Stock, a rewards platform that enables shoppers to automatically earn fractional shares, has bagged $4.4m in seed funding.
The round saw participation from investors such as Keen Venture Partners and Yellow Accelerator by Snap.
The Bits of Stock app is focused on replacing the traditional points, cashback programmes and loyalty with stock assets that can grow in value over time. Shoppers enrol a credit card in the company’s app to automatically begin earning fractional shares and crypto rewards for everyday purchases.
The company has also recently unveiled an API that enables clients such as neobanks and retailers to embed the rewards experience into their own apps.
The Dutch company is currently working with a vast number of brands including KFC, Nike, Uber, Zara and Netflix amongst others.
With the new funding, Bits of Stock has claimed it wants to add over 200 more companies in the next year.
Bits of Stock CEO Arash Asady said, “The funding will help us to scale up our mission of building the “Ownership Economy” for the thousands of brands and their tens of millions of end consumers. Our ultimate purpose is to address wealth inequality and help young people learn about finance and investing.”
Nigerian FinTech buy now, pay later service CredPal recently received an investment from the Cairo Angels Syndicate Fund (CASF).
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