New York based provider of branded payments and rewards products raised $38m in Series A funding led by Kleiner Perkins and Stripe.
“We’re really focused on the fact that all brands today have to pay an incredible amount of money for their top line revenue process of payment, and yet none of them get anything in return,” Murphy told TechCrunch. “But if you look back over the last 15 or 20 years one of the most valuable ways for you to get a customer to pay was with a branded card. It used to be credit cards, but we’ve kind of reinvented the model a little so it’s taken away the nastiness of the credit but giving brands the ability to really deepen the relationship with their customers.”