VC Fund Investments
Loyalty-points aggregator Twid raises $2.5 M from Beenext, Surge, others
Bengaluru-based Twid, a rewards-based payment network, has raised USD 2.5 million in funding led by Beenext and Sequoia Capital India's accelerator program Surge. The round also saw participation from angel investors Kunal Shah, Rajul Garg and YourNest India. Twid is part of Surge's fifth cohort of 23 companies. Founded by Amit Koshal, Amit Sharma and Rishi Batra, Twid enables customer reward or loyalty points to be used as a payment instrument. Its technology 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.
From the Venture Intelligence PE-VC Deal Database: Between Feb-16 and Jul-17, Twid raised over $1-M from Whiteboard Capital, YourNest and others. (Subscribers to the database can login to view the valuation, deal structuring and other transaction details.)
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