Belly, a Chicago-based loyalty program, has received USD12m in funding from Andreessen Horowitz, Lightbank, NEA, Cisco and 7-Ventures. Belly, which launched in 2011, offers a loyalty app for iPhone and Android that can be used for various offers at several different businesses. Bell will use the new funding to continue growth and boost merchant uptake.
CEO Logan LaHive says he plans to use the money for “market growth and saturation.” The first Andreessen investment a year ago “was about market expansion.”
As the demand for immediate payments implementation grows in the United States, Iliad Solutions have identified one of the largest risks to face the payments industry over the next few years.
Barclays has signed contracts with six of the fintech startups that just graduated from its second New York accelerator programme.
Company card killer Pleo has raised $3m in new funding as it prepares for public launch in the UK and Denmark.
Cheques are become less and less common in the UK according to new research from global market research firm Mintel which claims contactless card use has overtaken cheque payments in the UK for the first time.