£2m funding for two month old loyalty app Bink
New fintech start-up which counts Pizza Express, Topshop, and Virgin Atlantic as clients has taken total investment to £10m...
A new start-up which scraps the need to show your loyalty cards at the till has closed a £2m funding round less than two months after its official launch.
The funding for Bink, which is based in London and was founded in 2014, has come from unnamed angel investors and takes the company’s total investment to date to £10m.
Bink is a free app which automatically collects loyalty points and rewards. It links your payment cards to individual loyalty schemes so you can then auto-collect points when ever you shop at specific stores, it also shows you your loyalty reward balances and what they’re worth.
Brands already signed up to the app include Pizza Express, Virgin Atlantic, Topshop, Avios, River Island, and Morrisons.
Bink founders Greg Gormley and Lee Clarke have said that this latest funding will go towards “accelerating” growth in the UK with additional investment in marketing and sales staff.
The start-up will be taking on competition from Loyalive, the loyalty rewards app from Young Gun Mark Kanji, and loyalty and payments reward platform Yoyo Wallet; featured in the Startups 100 index for the last two years.
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“We’re moving fast we think we can shake up a huge, established industry in need of a technology boost. We’ve been working hard to build the best technology in the payments industry as well as a strong team and are now showing traction among consumers and retailers alike.”