Rocketship.vc funding to accelerate Stocard growth in Australia and launch mobile payments
Sydney, Australia, 1 February 2017 – Stocard, the world’s leading mobile loyalty wallet, today announced its latest financing round for an undisclosed amount from Silicon Valley-based Rocketship.vc, in addition to funding from original investors Shortcut Ventures and Germany-based Alstin. Stocard will use the capital from the raise to launch a mobile payments functionality, expand in new markets including Australia and recruit engineers and business development professionals.
Stocard eliminates the need to keep plastic loyalty cards and lifts the weight off wallets, by allowing shoppers to store their loyalty cards all in one app, as well as collect points and rewards. In addition, users receive personalised offers from favourite retailers and see current points balances and transactions in real-time.
Globally, Stocard currently has 12 million users with a user base growing by half a million users, month on month. Of this, 1.5 million users are in Australia with this number increasing organically per month at a steady rate. Over 4,000 brands are using Stocard internationally to reach shoppers with loyalty offers, including major Australian retailers such as the Woolworths Group, Wesfarmers and Spotlight Retail Group.
Björn Goß, co-founder and CEO of Stocard, said, “Rocketship is the perfect match to help take Stocard to its next level of growth. Stocard creates value for retailers by unlocking access to consumer data previously unavailable, thus allowing them to serve their clients more efficiently through digital loyalty programs. Rocketship’s approach, which relies on data to identify a business’ potential for growth, is exactly in line with Stocard’s philosophy and mission. Their deep industry expertise and global footprint make them an ideal partner to scale our product.”
This year, Stocard will launch a mobile payment capability, offering users a holistic shopping experience – from browsing offers to paying at the POS – within the Stocard app.
Radinck van Vollenhoven, Country Manager of Stocard Australia and New Zealand, said, “To be successful, a mobile wallet needs to accompany the user throughout the whole customer journey; mobile payment is just one component. Our goal is to expand our position in the market and actively shape the future of how people discover and purchase products and services through their mobile device.”
Sailesh Ramakrishnan, partner at Rocketship.vc sees huge potential in the new portfolio company. “At Rocketship.vc, we use data-science to identify, evaluate and invest in startups. Stocard is a great find not only from their strong growth in users but also because they are unlocking a previously hidden data stream of user retail behaviour. We are excited to see how Stocard will revolutionise retail.”
Since the Series A financing in early 2016, Stocard launched two new offices in Italy and Australia to boost collaboration with local retailers.
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Stocard was founded in Mannheim, Germany in May 2011 where its headquarters is based, with offices recently opened internationally in Australia and Italy. Stocard lets users store all their loyalty cards in one place – on their smartphones. With more than 12 million global users, Stocard is the leading wallet app for loyalty and combines smart technology with maximum usability. A simple scan feature lets users scan every card and add it digitally to the app. Moreover, targeted offers from retailers can be received by users. In the near future a payment solution will be added in order to implement a complete mobile wallet. For more information, visit www.stocardapp.com.
Smart Investment through Data Science. Based in Palo Alto, California, Rocketship.vc is an early stage venture capital fund investing in companies using models built through data science. Rocketship’s proprietary Escape Velocity™ algorithm identifies companies with a Sustainable Growth Engine at their core. For more information, visit www.rocketship.vc.
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