Founded in 2020 by Amit Koshal, Rishi Batra and Amit Sharma, Twid combines multiple loyalty/reward points across issuers such as banks, fintech firms and retail/e-commerce brands.
It allows consumers to pay at offline and online stores with a one-click-checkout experience using their reward points.
“Customers are able to stay updated with their points and save, earn and pay every time they use Pay With Rewards,” said Amit Koshal, Founder and CEO, Twid.
This investment will accelerate our next phase of growth, further strengthening our innovations, products and offerings, he added.
The funding round also saw participation from existing investors BEENEXT along with ICMG Partners, JAFCO Asia, Jan Capital, Reddy Futures Fund.
Rakuten India CEO Sunil Gopinath will join Twid’s board of directors on behalf of Rakuten Capital.
“Rakuten Capital sees tremendous potential in this investment and synergy in the future,” Gopinath said.
Twid works with JioMart, NetMeds, Yatra, Gaana, Wakefit, Confirm TKT, Ixigo, PAYBACK, InterMiles, IndusInd Bank, PayU, Juspay and many more.
With over 40 million registered users and over 50,000 live merchants, Twid provides access to a reward point pool of over $2 billion with its issuer partners and processes over 5 percent of digital transactions for its merchant partners. Is.
Disclaimer: This story is auto-aggregated by a computer program and is not created or edited by FreshersLIVE.Publisher : IANS-media