IndiaIdeas.com Invests In Loylty Rewardz

Industry: Other 2015-11-24

Mumbai based loyalty and rewards management company – Loylty Rewardz Management, has raised R120 Cr from IndiaIdeas.com. With the deal, existing investors Ventureast & Canaan Partners have exited the company. The funds will be used to utilize to enhance the technological offeirngs on platform to support millions of transactions on a monthly basis. Loylty Rewardz was founded in 2006 by Bijai Krishnan Jayarajan. Currently, the company runs debit card loyalty program – FreedomRewardz for State Bank Group customers, myWorldMiles.com for Deutsche Bank, PremierMiles.co.in for Citibank and www.pnbRewardz.com for Punjab National Bank. The company claims to have processed over 33 Mn transactions worth R6100 Cr in a month and is planning to expand its present network of more than 120 retail partners with 6000 stores spread across India.

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