Stocard, a European mobile loyalty card wallet, has closed $20m Series B round led by Macquarie Capital.
The company has also received follow-on financing from original investors Shortcut, Alstin, Silicon Valley based Rocketship, HTGF, and Engelhorn.
Stocard allows its 25 million users to store their loyalty cards in one app and collect points and rewards without having to carry around plastic loyalty cards. Users also receive personalised offers from their favourite retailers, see their current points balance and transactions in real-time, and can sign up for new loyalty programmes right inside the app.
For retailers, Stocard allows them to offer the latest personalised offers or prompt a customer to sign up for a loyalty programme with just one click. Over 4000 international brands are currently available in Stocard including Carrefour, Ikea, and Decathlon.
With the capital onboard, Stocard plans to launch a mobile payment functionality, recruit 40 employees across engineering, Sales and Marketing, and expand to new markets.
Headquartered in Germany, the company already has offices in Sydney, Australia, Rome, Italy, Amsterdam for Benelux, Mannheim, Germany. It recently opened a new office in Paris, France and is looking to open an office in Toronto in the coming months.
Elmar Broscheit, managing director at Macquarie Capital said: “Stocard offers a holistic shopping experience for customers by completely revisiting the role mobile and wallets can play in our everyday shopping experience. The team is also creating new value for retailers by allowing them to leverage digital, mobile, and data in a way that was simply not available before Stocard. We are impressed by the company’s rapid growth, currently adding 1 million new users per month, and working with some of the largest most innovative retailers globally.”
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