New acquisition
Loop Commerce, the company reinventing e-commerce by changing how gifts are given and received for online retailers has secured an investment from PayPal as part of the company’s Series A funding. With its investment, PayPal joins recently announced Series A investors, who are e-commerce, technology, retail and finance leaders, in supporting Loop Commerce’s vision and solution.
“We are impressed with the Loop Commerce team, approach and technology,” said Don Kingsborough, Vice President of Global Strategic Development for PayPal. “Improving the online gift-giving and -receiving experience is of great importance to both retailers and consumers. We believe Loop Commerce represents the next stage in the evolution of the multi-billion dollar gift-card industry, empowering retailers and creating new opportunities through next-generation gifting experiences.”
Loop Commerce also announced today that Don Kingsborough will serve as PayPal’s observer on Loop Commerce’s board. Don was previously founder and CEO of Blackhawk Network, a prominent gift cards and pre-paid payments network, bringing significant industry and retail experience to Loop Commerce.
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