HomeFundingStocard brings Silicon Valley investor on board to actively shape the future...

Stocard brings Silicon Valley investor on board to actively shape the future of the mobile wallet

Stocard, the world’s leading mobile loyalty wallet, just announced the closing of this year’s second financing round. While the size of the round has not been disclosed, it was reveiled by the Mannheim-based startup that the new investor is the Silicon Valley based venture capital fund Rocketship.vc. The existing shareholders Shortcut Ventures and Alstin also participated in the round.

Earlier this year, Stocard already closed a financing round. Since then the German FinTech startup has seen enormous growth and was able to expand its position as the leading mobile loyalty wallet. The company stated that the management team wasn’t actively raising funds, but has seen strong interest from investors.

Sailesh Ramakrishnan, partner at Rocketship.vc, sees huge potential in the new portfolio company. He stated: “At Rocketship.vc, we use data-science to identify, evaluate and invest in startups. Stocard is a great find not only from their strong growth in users but also because they are unlocking a previously hidden data stream of user retail behavior. We are excited to see how Stocard will revolutionize retail.”

In addition to Rocketship.vc’s experience as investors (e.g. in Facebook in 2005) Stocard can count on the support of experienced entrepreneurs in the retail technology space. Since the Series A financing earlier this year, Stocard could even further accelerate its growth. Moreover, local offices were opened in Italy and Australia to intensify the collaboration with local retailers. With far more than 10 million users, Stocard is not only the most successful German and European mobile wallet, but also an industry shaping wallet worldwide.

Stocard was founded in 2011. The app allows users to store all their loyalty cards in one app and collect all their points and rewards without having to carry around all their plastic cards. In addition, users receive personalized offers from their favourite retailers and see their current points balance and transactions in realtime. Next year, Stocard will also offer a mobile payment function. However, the holistic shopping experience – from browsing offers to paying at the POS – will remain the app’s focus.

Stocard CEO Björn Goß stated: “To be successful, a mobile wallet needs to accompany the user throughout the whole customer journey; mobile payment is just one component. Our goal is to expand our position in the market and to actively shape the future of the mobile wallet.”

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Thomas Ohr
Thomas Ohr
Thomas Ohr is the "Editor in Chief" of EU-Startups.com and started the blog in October 2010. He is excited about Europe's future, passionate about new business ideas and lives in Barcelona (Spain).

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