Coupon sharing service SnipSnap has landed USD900,000 in angel funding in a round led by MentorTech Ventures and Michael Rubin, CEO of Kynetic. This latest backing brings the startup’s total funding to nearly USD1 million to date. The news comes as SnipSnap announces that it has now processed 1 million coupon swaps on its platform and has been downloaded 160,000 times. CEO Ted Mann says the service has 50,000 daily users.
Snipsnap converts printed coupons to digital formats, allowing users to scan in an image of a voucher in a magazine or on a bill receipt and store them in the app for future use. The app uses geo-fencing technology to alert users when they have entered a shop or restaurant where they have coupons to redeem, warns users when they are about to expire and allows for sharing via email and social media.
Whitepapers
Related reading
Central banks best suited to issue digital currencies
By Aaran Fronda A recent report by the Official Monetary and Financial Institutions Forum (OMFIF) said that central banks rather than private ... read more
Instant payments: innovations inbound for corporates
In 2020, instant payments look set to continue their current trajectory to become the biggest trend in payments. While these schemes already offer numerous benefits to corporates, leveraging innovations such as APIs and request to pay will go some way to unlocking their full potential, argues Michael Knetsch
Obstacles exist for banks to meet ECB’s instant payments goal
The cost of joining instant payment platforms will be one of many hurdles banks and payment services providers must overcome to meet ... read more
Banks must be aware of “biases” in data used to train ML models
Financial institutions need to be conscious of biases in the historical data that is being used to train machine learning (ML) models, ... read more