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Taking advantage of credit card rewards is not easy. You may need to read the fine print on which purchases qualify or sign up for notifications about which purchases qualify and when. We want you to choose the best card every time you are ready.
The company has developed a free Chrome extension for all card-holding digital wallets. It supports over 3,000. It then calculates rewards and benefits for each purchase, recommends appropriate cards (which may be store cards), and assists with applications. for it.
Tikue Anazodo and Ahmad Ismail started the company a few years ago after working together at Google and Affirm. Ismail was the product lead for both companies and he was also the product lead for Affirm. Anazodo was the product lead for Google Pay and led the launch of the payments partnership with Shopify, which he expanded to international markets. expanded to over 300,000 merchants. .
Anazodo told TechCrunch that the driving force behind Kudos is a poor consumer experience. A lot of his previous work was getting integrations between the companies he was with and retailers or merchants, but not so much about how end users benefited. .
“With billions of dollars locked in credit cards, the consumer experience has always been lacking,” he added. “I wanted to take a first-principles approach to what consumers care about when they shop.”
![credit card](https://techcrunch.com/wp-content/uploads/2022/10/In-Context-Card-Recommendations.png)
Praise credit card recommendations. Image credit: praise
He also hinted that Kudos is working on a prototype for managing a user’s entire checkout.
Exhibiting as part of TC Disrupt’s Battlefield 200, the company today received a $7 million seed from investors, including a group of over 40 angel investors from companies such as Patron, QED Investors, SciFi VC, SV Angel and Google. announced that it has raised funds. , AfterPay, Honey, Duolingo, Discord, Earnest, Fundera. This is also the official release of our mobile desktop browser extensions and apps.
Kudos has been in beta for the last three months and has no waiting list. According to Anazodo, this was intentional. He wanted the company to grow organically. The company has so far achieved his 36% growth and his 90% retention rate month over month.
“It helps that we show up every time they shop, so there’s no reason to uninstall,” he added. We also plan to have more product-driven growth, such as the ability to share wallets.”
Kudos makes money from affiliate fees once a consumer completes an application, and also receives some cashback rewards from merchants and shares them with consumers, Anazodo said.
Startups such as Kard, Power, Bilt Rewards and MaxRewards are also active in this space, but Anazodo says Kudos faces stiff competition from big players like Bolt, PayPal, Google Pay and Apple Pay. And even his Sleek, he noted, “takes a similar consumer-centric approach without relying on merchant integration.”
Kudos, he believes, is different because of its focus on features like ubiquity and consumer revenue. For example, Smarthis wallet should work everywhere and create transparent rewards and benefits that are otherwise hidden, rather than relying on integrations. For example, Purchase Protection or Lost Baggage Protection.
“I have seen reliance on merchant integration being the biggest driver for the expansion of consumer-centric wallets. That’s why we need a lot of capital to get it, we need to pay millions of dollars per merchant to drive integration incentives,” said Anazodo. Added. “Our first product provides a very streamlined autofill experience, including CVV, on over 1 million sites.”
Next, this holiday season, the company will introduce cashback features to its over 12,000 merchant partners to help consumers stack up rewards. Kudos also plans to expand its team of 11 people to spend the next six months improving its product and attracting customers.
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