Today, we are announcing Intuit Ventures’ investment in Wildfire, a financial technology platform that powers loyalty and reward programs, shopping companions, and content monetization. We’re excited to co-lead the company’s Series B round with Mucker Capital alongside Samsung Next, TTV Capital, QED Investors, B Capital, and others.
Consumers are facing high prices and inflation: 75% of consumers are interested in earning cash back rewards to offset their higher cost of living. At the same time, platforms and brands struggle to capture consumer attention in an increasingly crowded online landscape. Wildfire addresses both these needs with its white label rewards infrastructure and network of merchant offers. Partners build branded loyalty and rewards programs for their customers that leverage browser extensions and phone apps tied into Wildfire’s merchant network offers (for example, Citi Shop, powered by Wildfire).
Consumers who install these extensions can passively earn rewards as they shop on the internet. By tapping into Wildfire’s extensive merchant network, partners can take advantage of affiliate offers to create compelling cashback programs for their customers without having to develop direct merchant relationships.
Wildfire creates value for partners, customers, and merchants. Partners are able to provide a value-add loyalty program for their customers while creating a revenue stream and staying top of mind even when customers are not directly engaging with their product. Customers are able to get cashback amidst a period of high prices and inflation in the flow of their everyday shopping experience. Merchants are able to reach more consumers and further incentivize purchases of their products.
Intuit Ventures invests in world-class startups that are powering prosperity for consumers and businesses. We were impressed with CEO Jordan Glazier’s vision to provide meaningful benefits to consumers as they shop online while simultaneously empowering brands to deliver delightful experiences to their customers. We’re proud to support the Wildfire team as they continue to deliver a product that powers prosperity for consumers and businesses alike.
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