Amsterdam Fintech Bits of Stock Acquires $4.4M via Seed Round from Keen Venture Partners, Yellow Accelerator by Snap

Bits of Stock, the stock rewards platform, recently secured $4.4 million in seed funding from Keen Venture Partners and Yellow Accelerator by Snap Inc.

On a mission to “reverse” wealth inequality, Bits of Stock intends to use the proceeds “to double its size and onboard more than 200 brands in the next 12 months.”

Ultimately, “to give more wealth back to customers while driving brand loyalty.” The new funding “gives Bits of Stock a competitive edge in the embedded finance industry, a disruptive market projected to grow to $7.2 trillion by 2030.”

Bits of Stock is a consumer reward platform that “drives loyalty for brands.”

Replacing traditional points, loyalty cards, and cashback programs ‘with assets that grow in value over time.” Turning everyday consumer choices “into wealth-building opportunities.”

It’s the first app that “offers fractional shares and crypto rewards for everyday purchases.”

Shoppers simply “enroll a credit card in the Bits of Stock app to automatically start earning rewards.”

Bits of Stock is “launching a Growth Rewards API, allowing clients to embed a seamless rewards experience into their own applications and choose from thousands of fractional shares and crypto rewards.”

Arash Asady, CEO and co-founder of Bits of Stock, said:

“We are very proud to be backed by Keen Venture Partners and Yellow Accelerator by Snap. The Bits of Stock Growth Rewards API will support a range of embedded finance and rewards-as-a-service use case. It is the most significant innovation in customer loyalty programs since they began, more than two centuries ago.”

For brands and retailers, but also neobanks and BNPL providers, the Bits of Stock Growth Rewards API “represents a game-changing opportunity.” To boost brand loyalty,” by showing shoppers that relationships are more than just transactional.”

Arash adds:

“The funding will help us to scale up our mission of building the Ownership Economy for the thousands of brands and their tens of millions of end consumers. Our ultimate purpose is to address wealth inequality and help young people learn about finance and investing,”

According to a research study by Arun Sundararajan, from the NYU Stern School of Business, consumers “increase their monthly spending by a whopping $102 for each $1 in stock reward received.”

In contrast, “receiving $1 in cash reward increases spending by a mere 32 cents.”

Sundararajan continued:

“Stock rewards are dramatically more effective than cash and points because they’re aligned with economic and purchasing incentives. They have a more visceral, emotive and instinctive appeal as well, creating a deeper brand connection. Bits of Stock is pointing us to the future of loyalty programs.”

Bits of Stock is currently “working with 60 brands, including Adidas, KFC, Nike, Zara and many more.”

Subscription brands “such as Uber, Spotify and Netflix are also active on the platform.”

The fintech “has offices in Amsterdam and New York, and its strategy is to expand its marketing and sales teams in the U.S. while maintaining a global development team located in Amsterdam.”

The world’s richest 1% “own nearly half of the world’s wealth,” according to charity Oxfam.

Bits of Stock seeks “to reverse this trend by making financial products like fractional shares easily accessible.”

Particularly for younger generations “who have more difficulties building long-term wealth.” The majority of Millennials and Gen Z “don’t invest and have fewer savings then older generations.”

Keen and Snap are “joining a coalition of successful angel investors, who had already discovered Bits of Stock.”

Among them are Shane Happach (Mollie), Dick Boer (AHOLD), Arun Sundararajan (NYU Stern), David Vismans ( and Kalo Bagijn (Brand New Day and Binck Bank).

Snap, like Bits of Stock, is popular “with Gen Z and Millennials, with over half of their users under the age of 25.”

The tech companies “share a sense of responsibility to help youngsters build better financial habits.”

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