Indian reward and loyalty startup Twid raises $12 million in funding

Oluwajuwonlo Afolabi -

India-based reward and loyalty startup, Twid, has raised $12 million in its Series A funding round led by Rakuten Capital, to improve its operations.

  • The fund will be used to grow its merchant acceptance network, hire more talents across data science and analytics functions, and increase its user base.
  • Founded in 2020, Twid uses a single platform to aggregate rewards and points for users from banks, brands, travel, and dining, with which they can make payments for daily spending.
  • With over 100,000 online and offline merchants on its acceptance network and 40 million active registered users, the reward startup intends to grow its network.
  • Google, JAFCO Asia, January Capital, ICMG Partners, Reddy Futures Fund, and Beenext and Surge invested in the latest round.