FOR IMMEDIATE RELEASE - 31stJanuary 2014
Press release
Red Zebra Analytics secures Series A funding
Deal with SBT Venture Capital heralds a seven figure investment in Red Zebra's digital banking loyalty platform
LONDON, UK, 31 January2014 - Red Zebra Analytics, creator of the 3D OFFERS loyalty programme, today announced it has received Series A funding from SBT Venture Capital. The money will be used to further accelerate the company's already impressive customer successes, and expand sales and marketing.
"This investment represents an important step forward for us," said Attul Sehgal, co-founder and CEO of Red Zebra Analytics. "We've seen there is already significant customer appetite for what we offer, and this Series A funding will allow us to bring our platform to more customers, banks and merchants than ever before."
Customers that sign up to the loyalty platform are presented with discount deals via their online banking platform. The deals are linked to spending patterns, so people can save on what they already spend on, and merchants can place highly targeted offers. Customers then later use their bank cards to pay for deals, and receive rewards in the form of cashback once a month.
Research, carried out by YouGov on behalf of Red Zebra Analytics, found there is considerable support for the initiative. Nearly three quarters (72 per cent) of those who participated in an online survey said they would be willing to take part in a trial cashback scheme.
"Today, digital consumers want easy-to-use, navigable interfaces, and expect offers they receive to relate to their spending habits," said Matteo Rizzi, partner at SBT Venture Capital, "Red Zebra has the ability and the technology assets to grow rapidly in this new market, where understanding customer behaviour is more important than ever".
Red Zebra Analytics will be demonstrating its banking loyalty platform at Finovate Europe 2014, taking place in London on February 11 and 12. Finovate will see over 60 companies showcasing the latest cutting-edge financial and banking technology.
"We're very excited to be attending Finovate 2014," said Sehgal. "It's the perfect stage for Red Zebra to show people in fintech what the future of banking loyalty looks like."
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About Red Zebra Analytics
Red Zebra Analytics Ltd is a company that has created a new type of loyalty program. We call it 3D OFFERS because Consumers, Merchants and Retail Banks benefit from every offer. 3D OFFERS is a system that allows Merchants to place cash-back offers in the digital banking environment, in a way that is highly sensitive to customer needs and compliant with restrictive data and privacy protection policies.
About SBT Venture Capital
SBT Venture Capital is managing an early stage strategic venture capital fund focused on investing in technology innovations that have a significant impact on the financial services industry. The fund principal investor is Sberbank, the largest bank in Russia and Eastern Europe, holding almost one third of aggregate Russian banking sector assets. More than 100 million individual customers bank with Sberbank, and about 1 million businesses. The Bank has the largest distribution network in Russia with more than 18,000 branches, as well as subsidiaries in 20 countries including the CIS, Central and Eastern Europe and Turkey.
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