Le Lézard
Classified in: Science and technology, Business, Covid-19 virus

Venture Firm Draper Goren Holm Buys Another Round of Giftz


LOS ANGELES, Aug. 5, 2020 /PRNewswire-PRWeb/ -- Draper Goren Holm is pleased to announce that it recently completed a follow-on investment in existing portfolio company Rewards Media, Inc., ("Giftz" or "Company") supporting the Company's core business Giftz.com, and their complimentary COVID-19 Humanitarian & Economic Recovery initiative, GivebackHeroes.org.

While other Venture Programs have paused, Draper Goren Holm, a partnership between Tim Draper, Alon Goren, and Josef Holm, has doubled down on Giftz, a fintech startup that will provide true value to merchants and their customers post COVID-19.

Josef Holm, Founding Partner of Draper Goren Holm states, "While many startup models weren't ready for a pandemic, Giftz' mobile, contactless, pay-with-points solution is perfectly positioned for a post-coronavirus economy."

The Draper Goren Holm investment comes at the heels of Giftz' new partnerships with Blackhawk Network (eGift cards), WorldPay (cc processing), Ipsidy (facial biometric KYC verification) and an investment from senior payments executive Phil Kumnick who designed the settlement and FX processing at MasterCard. Mr. Kumnick, a Giftz Advisor, also led the merchant acceptance initiatives for the launch of ApplePay as Senior Vice President Global Acquirer Processing at Visa.

About Giftz

Giftz, a SoCal based startup, provides a Starbucks-esque mobile wallet and marketplace for points, miles, and eGift cards with trading, gifting, and contactless payment functionality.

Points and miles are traditionally challenging to move outside of an issuer's program, yet 94% of loyalty program users want to exchange them between programs (eMarketer). Giftz connects disparate loyalty and digital gift card systems (APIs) to create a network of exchangeable brand value.

Giftz App with Contactless eGift Payment Solutions

Retailer (Merchant) Benefits

COVID-19 will affect retail for years to come. According to KPS, the trend is now toward selling via variable channels to a small number of customers who are willing to offer their loyalty. In the future, the value retailers generate for customers through digital services will effectively determine retailers' success. Giftz, named one of the Most Fundable Companies® in the U.S., offers innovative, digital, customer-centric loyalty and stored value redemption solutions.

Giftz' flexible rewards redemption solutions combined with their Giveback Heroes initiative reinvent ways to rally COVID-wary customers back to brick & mortar retail stores, theaters & restaurants.

About Giveback Heroes

Giveback Heroes is a socioeconomic recovery initiative that provides gift code care packages to the heroes and victims of COVID-19 lockdowns and social unrest that closed hundreds of thousands of businesses and left millions of families without an income. Sending gift code care packages as part of a CSR program, stimulates merchant recovery, helps those in need and increases customer goodwill.

For more information on how your company can become a Giveback Hero; [email protected] or visit http://www.givebackheroes.org. Want to send gift code relief directly to someone in need? Please visit http://www.giftcoderelief.com.

 

SOURCE Rewards Media, Inc.


These press releases may also interest you

at 07:49
In the news release, Roborock Reports 2023 Full Year Financial Results, issued 28-Mar-2024 by Roborock over PR Newswire, we are advised by the company that in the first bullet point of "Growth across Product Categories", the USD amount should read...

at 07:48
Gold's Gym SoCal ? the original home of fitness workouts ? celebrates its 35th anniversary, marking three and a half decades of unparalleled dedication to health, wellness, and community. To coincide with the milestone, Gold's Gym SoCal is unveiling...

at 07:29
In a strategic move to address the growing talent shortage in the global construction equipment industry, XCMG Machinery (SHE:000425, "XCMG") has launched an extensive cross-training program for its employees from XCMG Global Business Headquarters....

at 07:05
Syngenta Group today announced financial results for the fourth quarter and full year 2023. Syngenta Group sales for full year 2023 were $32.2 billion, down $1.2 billion or 4 percent year-on-year (-1% CER). Full year EBITDA decreased 18 percent...

at 07:00
Scrum Ventures, a San Francisco and Tokyo-based early-stage venture capital firm, announced that NBA Champion and entrepreneur Kyle Kuzma, will join the fund as an advisor....

at 07:00
Operation HOPE announced today that "FINANCIAL LITERACY FOR ALL," the latest book by its Founder and CEO John Hope Bryant, has reached #1 on Amazon for Economics, prior to its April 16, 2024 release. From the best-selling author of "Up from Nothing,"...



News published on and distributed by: