Loyalty mgmt s'ware firm TWID set to raise $12-M: report

Bengaluru- and Singapore-based rewards payment network TWID is in talks with new and existing investors to raise around USD 12 million in a fresh financing round. Rakuten is likely to lead the new round with participation from existing investors and Google. TWID enables customer reward or loyalty points to be used as a payment instrument. It allows reward point issuers such as banks and fintech firms to connect with large merchant networks to enable redeeming points as a form of payment in both online and offline mode. The company had raised $2.5 million in funding led by BEENEXT and Sequoia Capital India's accelerator program Surge in July last year.