New York-based mobile wallet marketing automation platform Popwallet has raised $4 million of seed funding led by Stout Street Capital. Additional investors include Loeb.nyc, 3Lines Venture Capital, IrishAngels, Cultivation Capital, MATH Venture Partners, Entrepreneurs Roundtable Accelerator and angels from the marketing technology community.
Popwallet’s platform allows brand marketers to deliver personalised experiences to people through mobile wallets like Google Pay and Apple Wallet. These include coupons and offers, rebates, loyalty and gift cards, tickets and other lightweight branded content.
“Mobile behavior used to be just about heads down experiences, playing games and scrolling social feeds,” said Elias Guerra, founder and CEO of Popwallet. “But, consumer behaviour is changing. The smartphone is increasingly becoming the interface between people and the world around them, whether paying for groceries at checkout, boarding a flight, using a student ID, withdrawing cash from an ATM, entering a movie theatre, getting on the subway, or redeeming an offer or reward at a favourite store.
“Popwallet enables brands to be part of these experiences, right at the point of purchase or entry, all through the smartphone’s native mobile wallet that people are using more and more every day.”
The company will use this round of funding to increase its sales and marketing efforts, as well as develop additional partnerships and platform integrations.
According to Guerra, the near-term focus is to increase mobile wallet activations across the enterprise ecosystem, where they’ve already seen success with clients like Mars and partners like Oracle.