Finance Industry Loyalty Scheme Provider Gets Cash Infusion
RewardsNow has finalized a $7.5 million investment from Edison Venture Fund. The customer loyalty and financial services program provider will use the capital infusion for client growth and expansion of the services it offers.
RewardsNow provides customer loyalty programs to financial institutions. Its schemes encompass a wide variety of financial offerings credit cards, debit cards, loans, deposits and online banking.
In a statement, RewardsNow CEO Steven VanFleet indicated the financial industries are increasingly investigating loyalty and reward solutions as the economy strengthens.
As part of the investment, Michael Balmuth, Edison Venture Fund general partner, and Rick Auletta, Edison Director Network member, will join RewardsNow’s board of directors. Auletta is Vice President of Sales for Edison portfolio company, IPP.
Edison invests in financial technology businesses.
