Stocard, a leader in digital loyalty solutions, has recently garnered £20 million in funding.
This German firm aims to enhance consumer convenience by digitising loyalty cards into a singular app.
Stocard, a pioneer in the digital loyalty card industry, has successfully secured $20 million in investment, marking a significant milestone. This German-based company provides a mobile platform that allows users to consolidate their loyalty cards into a single app, eliminating the need for physical cards. This advancement indicates a shift towards mobile-based solutions for consumer convenience and efficiency.
The digital transition of wallets is an inevitable future, as highlighted by Björn Goß, co-founder and CEO of Stocard. He emphasises that the real challenge now lies in executing this transition while ensuring an optimal user experience. As mobile wallets begin to incorporate various services related to shopping and financial management, they are reshaping consumer interactions.
The investment round was led by Macquarie Capital, known for its expertise in scaling businesses globally. The financial backing provides Stocard with more than just capital; it offers a strategic partnership that is vital for the company’s expansion. Elmar Broscheit of Macquarie Capital noted the rapid growth of Stocard, adding a million users monthly, showcasing the brand’s potential.
Stocard’s ambitions include enhancing its global presence, with plans to open a new office in Toronto, Canada. The strategic location signifies the company’s intent to penetrate North American markets. This expansion is complemented by its existing office in Paris, France, demonstrating a balanced approach to growth across continents.
The collaboration with retail partners is a cornerstone of Stocard’s strategy. By driving significant revenue in offline stores, Stocard offers measurable ROI to its partners. The focus is on creating synergy between online mobile engagement and physical retail spaces, effectively bridging modern consumer expectations with traditional shopping methods.
With plans to double its team, Stocard aims to bolster its workforce across engineering, sales, and marketing departments. Recruiting 40 additional employees signifies the company’s commitment to sustaining its growth trajectory and further innovating its offerings. This growth is also a nod to the increasing demand for integrated digital solutions in the retail sector.
Stocard’s recent funding success underscores its pivotal role in transforming the mobile wallet space. With strong investor backing and a clear growth strategy, the company is poised to redefine how consumers interact with loyalty programmes, setting a new standard for digital engagement in the retail industry.
Stocard is at the forefront of digital transformation in the retail industry.
As they expand and innovate, they continue to bridge the gap between digital and physical retail experiences.
