“While we’ve reached the point of critical mass awareness when it comes to paying with our phones, there’s still one piece missing on the path to true adoption: rewards. Through a shared vision with [Koch Disruptive Technologies] and our expertise in rewards and consumer psychology, we are best-positioned to transform the emerging $100 trillion global payments market,” said [CEO Bryan] Leach, the Harvard, Oxford, and Yale Law School graduate who founded Ibotta in 2011. “The excitement of cash rewards will be the flashpoint in changing consumer behavior and driving adoption of new forms of mobile payments worldwide.”

https://venturebeat.com/2019/08/06/cashback-and-rebate-startup-ibotta-secures-funding-at-a-1-billion-valuation/