Rewards and loyalty startup Twid raised $12 million as part of its Series A led by Rakuten Capital where Google, JAFCO Asia, January Capital, ICMG Partners, Reddy Futures Fund and existing investors Beenext and Surge, the accelerator programme of Sequoia Capital India, also participated.
Twid connects various reward point systems from various issuers to a single platform. Twid allows customers to access all of their rewards points from banks, brands, travel, and dining on one platform and use them to pay for their daily purchases. The funds would be used to expand the company’s merchant acceptance network, hire more talent in data science and analytics functions, and drive further technological innovation. The company also intends to more than double its workforce by the end of the current fiscal year.
